BSG Producers purchased $3,000 of office supplies for its recording studio during the month of June. The supplies were paid for during July. On June 1, the Supplies account had a balance of $850. On June 30, supplies on hand amounted to $500 How much will be reported on BSG's income statement for the month of June for supplies expense? $____________ Required Computation: Transport Company purchased a truck at a cost of $75,000 on March 31, 2014. The truck has an estimated useful life of 8 years and a $15,000 residual value. How much depreciation expense should be reported for the year ending December 31, 2014? $____________ Required Computation: Kava Corp. began operations on November 30, 2014, and immediately received $30,000 for 6 months rent in advance for renting a parking lot for the period beginning December 1, 2014. Kava's accounting period ends on December 31, 2014. How much rent revenue will Kava's report for the year ending December 31, 2014? $____________ Required Computation: East Company manufactures mattresses. East borrowed $120,000 from Foregone Company on June 1, 2014 in exchange for a promise to repay in 7 months. The loan has a 12% interest rate. What is the amount of interest expense for the year ended December 31, 2014? $____________ Required Computation: