20) On July 1, 2010, Tulare Corp purchases a truck for hauling its products to customer. Tulare pays $120,000 for the truck and estimates that the useful life of the truck will be 200,000 miles over 8 years. Tulare estimates that the truck will be sold at the end of its useful life for $40,000. In 2010, Tulare drives the truck for 14,000 miles. Tulare chooses to depreciate the truck using the activity-based (units-of- production) depreciation method. How much depreciation expense should Tulare record in 2010 for the truck? $2,800 $5,000 $10,000 $5,600 17) On January 1, 2009 the accounts receivable and the allowance for doubtful accounts carried balances of $20,000 (debit) and $500 (credit), respectively. During the year, the company reported revenues of $100,000; 30% of which were cash sales. There were $550 of receivables written-off as uncollectible in 2009. Cash collections of receivables amounted to $74,550. If the company estimates bad debts expense to be 1% of credit sales, determine the net realizable value of receivables appearing on the 2009 balance sheet: $14,250 $14,150 $14,700 . $14,900