The maturity value of a $40,000, 90-day, 6% note is A. $40,600 B. $42,400 C. $600 D. $2,400 Computer equipment acquired at the beginning of the year at a cost of $56,000 has an estimated residual value of $3,000 and an estimated useful life of 5 years. Determine the 2nd year's depreciation using straight-line depreciation. A. $11 ,200 B. $22,400 O C.$10,600 D. $13,600 Using the perpetual method, the purchase of inventory for cash would be recorded as: debit Cash credit Inventory debit Inventory credit Cash debit Inventory debit Inventory credit Cash Discounts credit Purchases