Question 7 Not yet answered Marked out of 2.00 P Flag question Which of the following estimates are required when calculating depreciation expense? 1. Depreciation rate 2 Useful life 3. Expected maintenance costs Salvage value Select one: A2.3, and 4 B. 2 and 4 C 1, 2, 3, and 4 D. 1, 2, and 4 Quron 8 Not yet answered Marked out of 2.00 Play Question Brumos Company has a piece of equipment they purchased for $80,000 on Jan. 1 2018, On Oct. 1 2020, they sold the equipment for $55,000. Accumulated deprecation at the time of the sale was $12,000. Brumos would record: Select one a. A loss of $25,000 b. A loss of $13,000 c. Again of $5,000 d. A gain of $55.000 Next Question 9 Not yet answered Marked out of 2.00 P Flag question Paddington Company lends Bear Company $100,000 on April 1, 2019 accepting a four-month, 9% interest note. Paddington Company prepares its financial statements on April 30, 2019 What adjusting entry should be made by Paddington Company before the financial statements can be prepared? Select one: Support Note Receivable Cash Interest Receivable Interest Income Cash Interest Income D. Interest Receivable Interest income