on November 1, 2015, ABC Inc. borrowed $5,000 by issuing a 120-day not with 10% cannual interest. on pecember 31s: of that year, the company A) interest expense of $500 (rounded to the nearest dollar) B) interest expense of $125 Crounded to the nearest dollar) C) interest expense of $83 (rounded to the nearest dollar) D) interest expense of $0 (the note is due next year). recognize. .. ompany Franco Company sold office furniture for $6,500 cash. The furniture cost $40,000 and had accumulated depreciation through the date of sal totaling $35,000. The company will recognize... A) a loss of $5,000 from the sale. B) a gain of $1,500 from the sale c) a loss of $1,500 from the sale. D) neither a gain nor a loss from the sale