QUESTION 11 On September 1, 2020, ABC Corporation purchased equipment costing $25,000. ABC Corporation records depreciation expense for the equipment at the rate of $1,000/month. What is the net value (or book value) that ABC Corporation will report for the equipment on its January 31, 2021 balance sheet? QUESTION 12 On October 1, 2020, ABC Corporation purchased equipment costing $300,000. ABC Corporation records depreciation expense for the equipment at the rate of $1,500/month. What is the credit balance in ABC Corporation's accumulated depreciation account for this equipment at February 28, 20217 QUESTION 13 At September 1, 2020. ABC Corporation reported a cash balance of $140,000. During the month of September, the company collected cash of $60,000 and made cash payments of $100,000. At September 30, 2017, the cash balance is Oa. $100,000 debit. Ob. $40,000 credit. Oc. $200,000 debit. Od. $100,000 credit.