Given Net sales are $500,000, cost of goods sold is $325,000, selling expenses are $10,000, Administrative expenses are $40,000, other revenues are $15,000, and income tax expense is $8,000. What is the gross profit? O a. $175,000 O b. $140,000 O c. $132,000 O d. $125,000 ABC Company purchased a truck for $32,000 on July 1, 2015. The truck has an estimated residual value of $2,000, An estimated life expectancy of 5 years, and it is estimated that the truck will travel 300,000 km. If 50,000 km are driven in 2015, what amount of depreciation expense would ABC Company record at Dec. 31, 2015, if the company uses the double-diminishing balance method? O a $6,000 . O b. $6,400 . O c. $12,000 O c O d. $12,800 Which of the following items found in a cash register drawer at November 30 is NOT considered as Cash? a. A customer cheque post dated December 01. O b. A customer cheque dated November 29 O c. Debit card slips from sales to customers O d. Credit card slips from sales to customers A general ledger: O a. Provides a chronological record of transactions O b. Is a collection of the entire group of accounts maintained by a company . Contains asset and liability accounts O d. Shows accounts in alphabetical order