(Chapter 5 - 9) Saved Help Save & Exit Submit Ngu owns equipment that cost $97,100 with accumulated depreciation of $66,400. Ngu asks $35,900 for the equipment but sells the equipment for $33,600. Compute the amount of gain or loss on the sale. 8:03 Multiple Choice $5,200 gain 0 $2,300 gain 0 $2,900 gain 0 $5,200 loss. pter 5-9) Saved Help Save & Exit Submit Wickland Company installs a manufacturing machine in its production facility at the beginning of the year at a cost of $146,000. The machine's useful life is estimated to be 10 years, or 120,000 units of product, with a $4,000 salvage value. During its second year, the machine produces 9,600 units of product. Determine the machines' second year depreciation under the straight-line method. Multiple Choice 0 $14,600 $11,360 0 $14,200 0 $15,000 0 e here to search -pter 5 - 9) Saved Help Save & Exit Submit Peavey Enterprises purchased a depreciable asset for $26,000 on April 1, Year 1. The asset will be depreciated using the straight-line method over its four-year useful life. Assuming the asset's salvage value is $2,800, Peavey Enterprises should recognize depreciation expense in Year 2 in the amount of: Multiple Choice $22,233.33 0 $4.833.33 0 $23,200.00 0 O $5,800.00 At year-end (December 31). Chan Company estimates its bad debts as 0.5% of its annual credit sales of $975.000. Chan records its Bad Debts Expense for that estimate. On the following February 1, Chan decides that the $580 account of P. Park is uncollectible and writes it off as a bad debt. On June 5, Park unexpectedly pays the amount previously written off. Prepare the journal entries for these transactions (8 00:37:00 View transaction list View journal entry worksheet No Date General Journal Credit Debit 4875 Dec 31 Bad debts expense Allowance for doubtful accounts 4,875 Feb 01 Allowance for doubtful accounts Accounts receivable Park Jun 05 Accounts receivable P Park Allowance for doubtful accounts Jun 05 580 Cash Accounts receivable Park 580