Bob purchased a truck for $53,000 with a residual value of $26.000 and a life expectancy of 5 years using straight-line depreciation, the amount of the depreciation for the test year would be O A $5,200 OB. 510,600 OC. $5,400. OD. 55,300 Sam purchased a one-year insurance policy for $6,480. The adjusting entry for one month would include a: O A. credit to Cash, $540. OB. credit to Insurance expense, $540. OC. debit to Prepaid Insurance, $540. OD. debit to Insurance Expense, $540. A contra - asset is: O A. a revenue account. O B. a liability. O C. an asset with a debit balance. OD. an account with an opposite balance of a normal asset. Unlimited Doors showed supplies available during the year of $2,000. A count of the supplies on hand as of October 31 is $800. The adjusting entry for Store Supplies would include O A. a debit to Store Supplies Expense for $1,200 OB. a debit to Store Supplies for $1.200. O C . a dobit to Store Supplies Expense for $800. OD. a credit to Store Supplies Expense for $800