ABC Ltd. Received a payment at the maturity of a Promissory Note it had signed with its customer. The note was for $6,000 for 60-day period bearing interest at 5%. What is the total amount of payment received by the company? (A) $300 (B) $6,300 (C) $49.32 (D) $6,049.32 In the above example (question #8), record the reinstatement of the written off account. (A) Debit A/R $800; Credit Cash $800 (B) Debit A/R $800; Credit AFDA $800 (C) Debit AFDA $800; Credit A/R $800 (D) Debit A/R $800; Credit Cash $800 The estimated Warranty Liability at the time of a sale of an appliance was $2,100. Record the transaction at time of sale. (A) Debit Estimated Warranty Liability $2,100; Credit Warranty Expense $2,100 (B) Debit Warranty Expense $2,100; Credit Accounts Payable $2,100 (C) Debit Warranty Expense $2,100; Credit Estimated Warranty Liability $2,100 (D) None of the above Using the information from the above example (question #10), calculate the depreciation expense using the Straight-Line method. (A) $2,500 (B) $2,750 (C) $2,000 (D) $5,500 ABC Ltd. Purchased equipment for $22,000. The estimated useful life of the equipment was estimated as 8 years, while the Residual Value was estimated at $2,000. What is the depreciation expense using the Double Declining Balance method? (A) $2,750 (B) $2,500 (C) $5,500 (D) $2,000