Wasatch Company signs a $50,000, 8%, 6-month note on September 1, 2021 to borrow money from the entry made by Wasatch on September 1, 2021 will: increase assets and increase long-term liabilities. increase assets and decrease current liabilities. decrease assets and increase current liabilities. increase assets and increase current liabilities. On January 1, 2021, Ash Corporation issues $400,000, 5-year, 5% bonds at 104. Interest is paid semiannually on Janu and July 1. Orange Corporation uses the straight-line method of amortization. The company's fiscal year ends on De 31. The necessary journal entry at maturity includes: a credit to Cash of $400,000 a debit to Premium on Bonds Payable of $16,000 a debit to Bonds Payable of $416,000 a credit to Cash of $416,000 Price to purchase equipment $50,000 Insurance costs before the equipment is ready for use $2,000 Maintenance costs before the equipment is ready for use 800 Insurance costs after the equipment is placed into service 1,200 Repairs during first year of operation 2,000 Training costs for employees to learn how to use 600 equipment What is the amount assigned to the new equipment? Training costs for employees to learn how to use equipment 1600 What is the amourt assigned to the new equipment? $55,400 $56,600 $54,600 $53, 400