Apps M Gmail YouTube Maps 167388_1&course_id=117922_1&content_ide_3124417_1&step=null Minbox (2) suman D Home - MOMACC Mail-Sudmann, lo Welcome, Jozie - Courses Minbox (1) - sudman... Question Completion Status: 2. MUIDe step B. Single Step QUESTION 2 3 Marquette Company borrows $100,000 cash at 8% annual interest on May 1, 2020 for the purpose of buying a new piece of manufacturing equipment The equipment is purchased on June 1, 2020 for a discounted price of $95,000. It is anticipated that the equipment will have a fair market value at the end of the life of the equipment of $15,000. The equipment is high tech related and is only predicted to have value for 4 years. The loan is to be repaid on May 1, 2023 In the entry to record the signing of the loan and the receipt of cash on 5/1/20 working capital is changed as follows: A. Decrease $100,000 B. Increase 50 C. Increase $50,000 D. Increase $100,000 QUESTION 3 5p What is the total impact on Net Income when adjustments are made at 12/31/20 related to the two transactions discussed in question 2 from May 1 and June 1? Follow the rules stated in the description at beginning of homework, on how to enter numerical questions. For instance remember a DECREASE in Net Income of $200 would be entered as simply 200 -5,333 5p: QUESTION 4 Jack Streeter pays a lump sum of cash to Manny's Maintenance to plow his driveway during the 20-21 winter season on November 1 Save All Answers Close Window Click Save and Submit to save and submit. Click Save All Answers to save all answers