ss, a an outside party within the erent aReceived from an outside party within 1 yer C Paid to an outside party within 3 ear Converted to cash or used up within 1 year. The Hendricks Co, purchased an office building by paying $140,000 cash and signing a note payable for $200,000. The journal entry would include a: A Credit to Office Building of $340,000 B. Debit to Cash of $140,000. C Credit to Note Payable of $200,000. D. B and C On January 1, 2016, the Matisse Company purchased a delivery company paid $60,000 for the delivery truck. Expected useful life value of $5,000. truck to be used in the business. The is 5 years and the estimated salvage 57. Depreciation Expense in year 2, (2017), using the Straight-Line Method of A. $11,00o. B. $24,000. C. $10,000. 58. Depreciation Expense in year 2, (2016) using the Double Declining Balance Method, is A. $24,000. B. $30,000. C. $14,400. Use the financial statements provided to answer questions59 through 66 59. The debt to asset ratio for 2016 would be closest to a. 35% b. 45% c. 41% d. 48%