EDHAWA PSOMOSIKW.R.OWC/viewform submission Ch. Able Towing Company purchased a tow truck for $75.000 on January 1 2010. It was originally depreciated on a straight-line basis over 10 years with an assured residual value of $15.000. On December 31, 2012, before adjusting entries had been made, the company decided to change the remaining estimated life to 4 years (including 2012) and the residual value to $2.500. What was the depreciation expense for 2012? a $7,500 b. 56.000 c. $18,750 d. $15.125 A credit balance in Cash Over and short is reported as an a asset b. liability c. miscellaneous expense OO d. miscellaneous revenue. The four subdivisions for plant assets are