A dishonored note receivable Creates a claim against the maker for the amount of principal only. Is one that is not paid in full within 10 days of maturity. Is no longer negotiable. Must be written off by the lender.

Multiple Choice Question 207 On January 1, a machine with a useful life of 5 years and a residual value of $376000 was purchased for $480000. What is the depreciation expense for year 2 under the double-declining-balance method of depreciation? $115200 $92160 $153600 $192000