In 2019, BayKing Company sold used equipment for $20,000. The equipment had an original cost of $90,000 and accumulated depreciation as of the date of sale was $69,000. BayKing also purchased held-to-maturity securities for $7,000. What is the gain or loss on the sale of the equipment? A) $14,000 bss B) $1,000 loss C) $34,000 gain D) $21,000 gain Which of the following is added to net income when computing net cash from operating activities under the indirect method? A) decrease in deferred tax liability B) increase in income tax payable C) increase in income tax expense D) increase in deferred tax asset Harrison Corporation borrowed $36,000 from F&M Bank on June 1 of the curent year. The bark required 8% interest. Interest will be paid when the nine-month note becomes due. What is the interest expense for the current year? (Do not round intermediate calculations. Only round your final answer to the nearest dollar.) A) $1440 B) $2880 C) $0 D) $1680 Jacobsen, Inc. borrowed $700,000 from F&M Bank on June 15 of the current year. The bank required 6% interest. Interest will be paid when the 12-month note becomes due What amount should be accrued as Interest Payable for the December 31 year-end of the current year? (Do not round intermediate calculations. Only round your final answer to the nearest dollar) A) $21,000 B) $42,000 C) $22,750 D) $19,250 The Hudson Company borrowed $250,000 to purchase machinery and agreed to pay 4% interest for six years on an installment note. Each note payment is $47,690. How much interest is Hudson paying over the life of the loan? (Do not round intermediate calculations. Only round your final answer to the nearest dollar.) A) $23,845 B) $50,000 C) $36,140 D) $60,000 On January 1, the Hudson Company borrowed $190,000 to purchase machinery and agreed to pay 8% interest for six years on aninstallment note. Each note payment is $41,100 and is due on the last day of the year. What is the carrying value of the loan at the end of the first year? (Do not round intermediatecalculations. Only round your final answer to the nearest dollar.) A)$149,900 B) $190,000 C) $205,200 D) $164,100 The contract between a corporation and its bondholders is a A) secured bond B) bond indenture C) restriction for compensating balances D) bond covenant