Fleetwood, Inc. signed a one-year note payable for $45,000 at 10% annual interest. What is the interest expense for 2025 if the note was signed on August 1, 2025? (Do not round any intermediate calculations, and round your final answer to the nearest dollar.) OA. $13,500 OB. $1,875 OC. $4,500 OD. $2,250 12 The cost of an asset is $1,160,000, and its residual value is $200,000. Estimated useful life of the asset is eight years. Calculate depreciation for the second year using the double-declining - balance method of depreciation. OA. $217,500 B. $145,000 OC. $240,000 OD. $120,000 The petty cash fund has a current balance of $300, which is the established fund balance. Based on activity in the fund, it is determined that the balance needs to be changed to $650. Which journal entry is needed to make this change? OA. No journal entry is needed because this change only involves cash. OB. Debit the Petty Cash account and credit the Cash account for $650. OC. Debit the Cash account and credit the Petty Cash account for $350. OD. Debit the Petty Cash account and credit the Cash account for $350