om december 1, Vetoria Company On December 1, Victoria Company signed a 90-day, 7% note payable, with a face value of $6,000. What amount of interest expense is accrued at December 31 on the note? (Use 360 days a year.). Multiple Choice $420 $70 $35 $105 An asset's book value is $19,800 on December 31, Year 5. The asset has been depreciated at an annual rate of $4,800 on the straight-line method. Assuming the asset is sold on December 31, Year 5 for $16,800, the company should record: An asset's book value is $19,800 on December 31, Year 5. The asset has been depreciated at an annual rate Multiple Choice O A gain on sale of $3,000. A loss on sale of $3,000. o A loss on sale of $4,200. o A gain on sale of $4,200. o Neither a gain nor a loss is recognized on this type of transaction. o Hutter Corporation declared a $0.50 per share cash dividend on its common shares. The company has 43,000 shares authorized, 22,800 shares issued, and 17,200 shares of common stock outstanding. The journal entry to record the dividend declaration is: Multiple Choice Debit Common Dividends Payable $8,600; credit Cash $8,600. o Debit Retained Earnings $21,500; credit Common Dividends Payable $21,500. o Debit Retained Earnings $11,400; credit Common Dividends Payable $11,400. o Debit Retained Earnings $8,600; credit Common Dividends Payable $8,600. o o Debit Common Dividends Payable $11,400; credit Cash $11,400. A company issued 110 shares of $100 par value common stock for $13,000 cash. The total amount of paid-in capital in excess of par is: Multiple Choice $100. $13,000. $11,000. $1,100. $2,000. Jasper makes a $77,000, 90-day, 7% cash loan to Clayborn Co. Jasper's entry to record the transaction should be: Multiple Choice Debit Cash $77,000; credit Notes Receivable for $77,000. Debit Accounts Receivable $77,000; credit Notes Receivable $77,000. O Debit Notes Receivable $77,000; credit Sales $77,000. O Debit Notes Payable $77,000; credit Accounts Payable $77,000. O O Debit Notes Receivable for $77,000; credit Cash $77,000