24) A company purchased new furniture at a cost of $20,000 on January 1. The furniture is estimated to have a useful life of 6 years and a $2,000 salvage value. The company uses the straight-line method of depreciation. What is the book value of the furniture on December 31 of the first year? 25) A company pays each of its two office employees each Friday at the rate of $115 per day for a five-day week that begins on Monday. If the monthly accounting period ends on Tuesday and the employees worked on both Monday and Tuesday, the month-end adjusting entry to record the salaries earned but unpaid is