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Thomas Enterprises purchased a depreciable asset on January 1, Year 1 at a cost of $100,000. The asset is expected to have a salvage value of $15,000 at the end of its five-year useful life. The asset is expected to produce 170,000 units over its lifetime. If the company uses the units-of- production depreciation method, and the company produced 18,000 units in the first year, what would depreciation expense be for year 1? $18,000 $10,588 O $9,000 $36,000 J&J Co. sold a tractor to a customer for $100,000 and accepted a note receivable as payment. The note carries an annual interest rate of 11% and has a term of 5 years. The sale took place on Nov. 1. Which entry should J&J Co. book at Dec. 31 of the year of the sale? dr. Interest Receivable $11,000, cr. Interest Revenue $11,000 dr. Interest Receivable $1,833, cr. Interest Revenue $1,833 . dr. Interest Expense $1,833, cr. Interest Payable $1,833 dr. Interest Expense $11,000, cr. Interest Payable $11,000