Current Attempt in Progress The following transactions occurred for Dussault Ltd. 1. Annual interest of 8%...

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Current Attempt in Progress The following transactions occurred for Dussault Ltd. 1. Annual interest of 8% is paid on $496,000 of bonds payable that were issued last year. 2. A truck was purchased for $42.000 at the beginning of this year. The truck is being depreciated over five years at a rate of $8,400 per year. 3. Old equipment is sold for $49,000. The asset originally cost $159,000 and has accumulated depreciation of $125,000. 4. New equipment is purchased for $204,000. A cash payment of $51,000 is made and a long-term note payable for $153.000 is issued for the remainder. 5. A deposit of $2,500 is received in advance from a customer for goods to be delivered at a later date. 6. Income tax expense for the year is $85,000; $72,000 of this amount was paid during the year, and the remainder will be paid next year. For each of the above items: Identify the accounts affected and give the amounts by which they would be increased or decreased. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required select "No Entry for the account titles and No. Account Titles and Explanation L 1. 2a. 26. (To record purchase of truck) 3. (To record depreciation expense) Debit Credit C State the amount of any cash flow and whether cash is increased or decreased. Transaction + 2a. Increases/Decreases 20 2b. $ 3. $ 4. 5. $ eTextbook and Media. List of Accounts $ Amounts Identify how each item would be reported in Dussault's statement of cash flows. Transaction Activity 1. 2a. 2b. 20 3. 4. 5. eTextbook and Media Current Attempt in Progress The following transactions occurred for Dussault Ltd. 1. Annual interest of 8% is paid on $496,000 of bonds payable that were issued last year. 2. A truck was purchased for $42.000 at the beginning of this year. The truck is being depreciated over five years at a rate of $8,400 per year. 3. Old equipment is sold for $49,000. The asset originally cost $159,000 and has accumulated depreciation of $125,000. 4. New equipment is purchased for $204,000. A cash payment of $51,000 is made and a long-term note payable for $153.000 is issued for the remainder. 5. A deposit of $2,500 is received in advance from a customer for goods to be delivered at a later date. 6. Income tax expense for the year is $85,000; $72,000 of this amount was paid during the year, and the remainder will be paid next year. For each of the above items: Identify the accounts affected and give the amounts by which they would be increased or decreased. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required select "No Entry for the account titles and No. Account Titles and Explanation L 1. 2a. 26. (To record purchase of truck) 3. (To record depreciation expense) Debit Credit C State the amount of any cash flow and whether cash is increased or decreased. Transaction + 2a. Increases/Decreases 20 2b. $ 3. $ 4. 5. $ eTextbook and Media. List of Accounts $ Amounts Identify how each item would be reported in Dussault's statement of cash flows. Transaction Activity 1. 2a. 2b. 20 3. 4. 5. eTextbook and Media