Mather Company purchased equipment on January 1, 2016 at a total invoice cost of $336,000; additional costs of $6,000 for freight and $30,000 for installation were incurred. The equipment has an estimated salvage value of $12,000 and an estimated useful life of five years. The amount of accumulated depreciation at December 31, 2017 if the straight-line method of depreciation is used is:

Select one:

a. $132,000.

b. $144,000.

c. $129,600.

d. $148,800. ________________________________________________________________________________________________

Trade accounts receivable are valued and reported on the balance sheet

Select one:

a. in the investment section.

b. at net realizable value.

c. at gross amounts less sales returns and allowances.

d. only if they are not past due.