Problem1 Part 1: An asset having a six-year useful life and a salvage value of $3,000 was acquired for $21,000 cash on January 1. The company estimates the asset will produce 60,000 units over its useful life. During the year the asset was used to produce 14,020 units. Using straight-line depreciation, what will be the depreciation expense for year 1 of this asset? a $4,206 b.$4,907 c. $3,000 d $3,500 Part 2: If a perpetual inventory system is in use and the purchaser pays for the shipping costs, which account would be debited by the purchaser to record the payment of the shipping costs? a Inventory b. Freight charges C. Delivery Expense d Cost of Goods Sold