Part I. (30 points) l Blandine ombe For each multiple choice question, select the one best answer and mark the appropriate box on the Scantron form. 1. The interest charged on a $300,000 note payable, at the rate of 6% on a 90-day note would be a. $18,000. b. $9,000. $4,500 d. $1,500 2. A company receives S264, of which $24 is for sales tax. The journal entry to record the sale would ind a. debit to Sales Taxes Expense for $24. b. credit to Sales Taxes Payable for $24 c. debit to Sales Revenue for $264. d.) debit to Cash for $240. 3. What is the total stockholders' equity based on the following account balances? Common Stock $500,000 40,000 190,000 20,000 Treasury Stock. a. $630,000 b. $710,000 c. $750,000 d. $460,000 4. Tyler Company purchased machinery on January 1 at a list price of $200,000, with credit terms 2 Payment was made within the discount period. Tyler paid $10,000 sales tax on the machinery, and p charges of $3,520. Prior to installation, Tyler paid $8,000 to pour a concrete slab on which to place t What is the total cost of the new machinery? a. $209,520 b. $217,520 $221,520 $202,000 a. Current assets are not affected and liabilities are understated. b. Current assets are overstated and retained earnings is overstated c. Current assets are not affected and retained earnings is overstated. d. Current assets are overstated and retained earnings is understat 5. Failure to record depreciation expense causes which of the following to occur: ed Page 1 of 10