Concord Corporation bought equipment on January 1, 2021. The equipment cost $353000 and had an expected salvage value of $50000. The life of the equipment was estimated to be 6 years. The depreciable cost of the equipment is ) $353000. $50500. ) $203000. ) $303000. The interest charged on a $86000, 4-month note payable, at the rate of 9%, would be $2580. $3870. $1290. $7740. Waterway Corporation bought equipment on January 1, 2021. The equipment cost $375000 and had an expected salvage value of $59400. The life of the equipment was estimated to be 6 years. The depreciation expense using the straight-line method of depreciation is $72400. $74400. $52600. None of these answer choices are correct. Crane Company has total proceeds (before segregation of sales taxes) from sales of $7770. If the sales tax is 5%, the amount to be credited to the account Sales Revenue is: $7770. $7400. $8234. $7376. Marigold Trucking purchased a tractor trailer for $175500. Interline uses the units-of-activity method for depreciating its trucks and expects to drive the truck 1000000 miles over its 12 -year useful life. Salvage value is estimated to be $21500. If the truck is driven 90000 miles in its first year, how much depreciation expense should Marigold record? $13860 $15795 $12880 $14922 Waterway Insurance Company collected a premium of $38580 for a 1-year insurance policy on May 1. What amount should Waterway report as a current liability for Unearned Insurance Revenue at December 31 ? $0. $12860. $38580. $25720