Hi , I need help with this question.

1. On July 10, Arbour Inc. purchased $5,000 of inventory on terms of 2/10, n/30. The amount due on August 25 is:

a. $5,100.

b. $5,000.

c. $4,900.

d. $4,990.

1. Which one of the following items is not considered to be a part of the cost of a truck purchased for business use?

a. insurance during transit

b. motor vehicle licence

c. freight charges incurred when acquiring the truck

d. cost of lettering on the side of the truck

2. Harmon Medical Ltd. purchases land for $290,500 cash. The title and legal fees totalled

$1,500. The clinic has the land graded for $25,000. What amount does Harmon Medical record as the cost for the land?

a. $290,500

b. $292,000

c. $315,500

d. $317,000

3. In calculating depreciation, residual value is

a. the fair value of the asset on the date of acquisition.

b. subtracted from accumulated depreciation to determine the asset's depreciable cost

c. an estimate of the asset's value at the end of its useful life

d. ignored in all the depreciation methods.