389) 6 Served Help Save & Exit Cain, Inc. signed a 120-day, 9% note payable on November 1, 2020 with a face value of $42,000. Cain made the appropriate year-end accrual on December 31, 2020. What is the journal entry as of March 1, 2021 to record the payment of the note assuming no reversing entry was made? (Use 360 days a year.) Multiple Choice Debit Cash $42,630, credin Notes Payable $42,630 Debih Notes Paynble $42.000, debit interest Payable $630, debit interest Expense $630 Credit Cash $43.260 Debil Notes Payable 543 260 credit interest Payable 5630 credit interest Expense 5630, Credit Cash $42.000 Det Nos Payable 142.000, debit interest Expense $1260 Credit Cash $43,260 Debil Notes Poble 542.000 debit interest Payable 5630, Credit Cash $42.630 17 of 24 SAR ECCA. Save & Exit Payson Inc. purchased a license plate stamping machine for $341,560. The machine has a useful life of 8 years and a residual value of $19,000. It is estimated that the machine could produce 768,000 license plates over its useful life. In the first year, 114,000 license plates were produced. In the second year, production increased to 118,000 plates. Using the units of production method, what is the amount of depreciation expense that should be recorded for the second year? Multiple Choice $50.700 O $52.479. $49,560 $97,440 -pd