Kinsella Seed borrowed $300,000 on October 1, 2019, at 8% annual interest rate. The interest and principal are due on October 1, 2020. Kinsella's fiscal year ends at December 31. What journal entry should be made with respect to the interest payment on October 1, 2020? Debit Interest Expense 18,000; Debit Interest Payable 6,000; Credit Cash 24,000 Debit Interest Expense 18,000; Credit Cash 18,000 Debit Interest Expense 24,000; Credit Cash 24,000 Debit Interest Expense 20,000; Debit Interest Payable 4,000; Credit Cash 24,000 Grey Company purchased a new van for floral deliveries on July 1, 2019. The van cost S54,000 with an estimated life of 8 years and 89,000 residual value at the end of its useful life. The double-declining-balance method of depreciation will be used and December 31 is fiscal year end. What is the balance of the Accumulated Depreciation account at December 31 2019? $6,750 $5,625 O $11,250 $13,500 Using the aging approach for recording bad debts expense, estimated ending balance of Allowance for Doubtful Accounts are $10,000. If the balance of the Allowance for Doubtful Accounts is $1,000 on debit before adjustment, what is the amount of bad debts expense for that period? $9,000 $1,000 $11,000 $10,000 The activity for a specific inventory item for the month of March was as follows: # of Per Unit Total Units Cost Cost October | inventory 30 $28 $840 Purchases: October 5 100 30 3,000 October 13 60 32 1,920 October 15 90 36 3,240 Goods Available for Sale 280 $9,000 Sales: October 8 110 October 22 120 230 Using weighted average cost under a periodic inventory system, what is the balance of Ending Inventory (round intermediate and final calculations to the nearest dollar) as at October 31? $1,980 O $1,920 $2,040 $2,160