The petty cash account is what type of account? Select one: O a. Equity b. Expense c. Current Liability d. Current Asset The correct entry to record the purchase of an office equipment for $4,000 cash, plus 10% GST is which of the following? Select one: a. DR Office equipment $4,000; DR GST receivable $400; CR Bank $4,400 b. DR Office equipment $4,000; CR Bank $4,000 C. DR Office equipment $4,400; CR Bank $4,000; CR GST collected $400 d. DR Office equipment $3,600; DR GST receivable $400; CR Bank $4,000 United Truck (UT) Company purchased three trucks for $250 000 each by paying a deposit of $400,000 and agreeing to pay the balance at the end six months. Ignoring GST, the journal entry to record the acquisition is: Select one: a. DR Trucks $750,000, CR Cash $400,000, CR Sundry creditor $350,000 b. DR Cash $400,000, DR Sundry creditor $350,000, CR Trucks $750,000 C. DR Trucks $250,000, CR Cash $250,000 d. DR Trucks $750,000, CR Sundry creditor $750,000 Baxter Ltd purchased equipment at the start of its first year of operation. Cost (net of GST) $210,000 Residual value $60,000 Estimated Useful Life 10 years Under the straight-line method, the accumulated depreciation at the end of year 5 will be: Select one: a. $105,000 b. $75,000 c. $15,000 d. $21,000