35) A company borrowed $19,000 by signing a 180-day promissory note at 10%. The total interest due on the maturity date is: (Use 360 days a year.) 35) A) $1425.00 B) S 1900.00 C) 595.00 D) $475.00 E) S950.00 36) Giorgio Italian Market bought $7400 worth of merchandise from Food Suppliers and a 90-day, 10% promissory note for the S7400. Food Supplier's journal entry to 36) signed record the collection on the maturity date is: (Use 360 days a year.) A) Debit Cash $7585; credit Notes Receivable $758s B) Debit Notes Receivable $7400; credit Cash $7400 C) Debit Notes Receivable $7585, credit Sales $7585 D) Debit Cash $7400; debit Interest Receivable $185: credit Sales $7585 E) Debit Cash $7585; credit Interest Revenue $185; credit Notes Receivable $7400 37) Beckman Enterprises purchased a depreciable asset on October 1, Year I at a cost of 37) S156,000. The asset is expected to have a salvage value of $16,400 at the end of its five-year useful life. If the asset is depreciated on the double-declining-balance method, the asset's book value on December 31, Year 2 will be: A) S33,696 B) $140,400 C) $45,684 D) S30,456 E) $84,240 38) Peavey Enterprises purchased a depreciable asset for $24,000 on April 1, Year 1. The 38) asset will be depreciated using the straight-line method over its four-year useful life. Assuming the asset's salvage value is $2400, Peavey Enterprises should recognize depreciation expense in Year 2 in the amount of A) $21.600.00 B) $4500.00 C) S20,700.00 D) $6000.00 E) S5400.00