QUESTION 8 1 that bears interest at an annual rate of 9%, How much will pea on Randal sin ome Randal Automotivesigned a $5,000 120-day noto payable on tot 317 statement for interest expenses related to this note at O a $150 O b. $4,500 OG$112.50 o d $450 QUESTION9 What is the purpose of recording depreciation? O To reduce the value of the assets on the balance sheet to their fair values To allocate the cost of the assots to the accounting periods in which the assets are used to procuce benefts O- To pay for possible future repairs and eventual replacement of the assets O Tovoldoverstating the book value of the assets