Machinery having a four-year useful life and a residual value of $5,000 was acquired for $65,000 cash on June 28. Using the nearest whole month method, the company would recognize $7,500 for depreciation expense at the end of thi first year, December 31 on a straight line basis. * True False The advantage of the allowance method of accounting for bad debts is that it reduces the likelihood of customers who won't pay their bills. * True False Collusion occurs when a person embezzles money from a company and tries to hide the evidence. * True False Dell's accounts receivable turnover was 5.7 for this year and 5.4 for last year. Lenovo's accounts receivable turnover was 6.8 for this year and 7 for last year. This means that * O Dell has the better turnover for both years O Dell's turnover is improving Dell has the better turnover for both years and Lenovo's turnover is improving O Lenovo has the worse turnover for both years O Lenovo's turnover is improving