Question 21 Not yet answered Points out of 2.00 'f' Flag question The adjusting entries to record depreciation or amortization expense, or to write down assets that have become impaired: Oa. Reduce both net income and cash balances Ob. Reduce net income, but have no direct effect on cash balances Oc. Decrease cash balances, but have no direct effect upon net income Od. Affect neither net income nor cash balances Question 22 Not yet answered Points out of 2.00 F Flag question On March 12, 2018, Shoreham, Inc. acquired melting equipment for $45,600. The estimated life of the equipment is 6 years, with an estl Shoreham uses straight-line depreciation with the half-year convention. The book value of the equipment at December 31, 2019, will be Oa. $26,600 Ob. $42,000 Oc. $34,800 Od. Some other amount Question 23 Not yet answered Points out of 2.00 V Flag question Sayville Dairy sold a delivery truck for cash of $8,680. The original cost of the truck was $33,600, and a loss of $5,320 was recognized on must have been: Oa. $24,920 Ob. $14,560 Oc. $3,360 Od. $19,600