When authorizing bonds to be issued, the board of directors does not specify the O contractual interest rate, selling price. O total face value of the bonds. O total number of bonds authorized to be sold. A company spends $18 million dollars for a parcel of land. Over what period should the cost be written off? After $16 million in revenue is recognized. Over the useful life of the land. O All in the first year. O Never On January 1, 2020, ABC Company, a calendar-year company, issued $1,800,000 of notes payable, of which $450,000 is due on January 1 for each of the next four years. The proper balance sheet presentation on December 31, 2020, is Current Liabilities, $1,800,000. Current Liabilities, $450,000; Long-term Debt, $1,350,000 Current Liabilities. $900,000; Long-term Debt, $500,000 O Long-term Debt, $1,800,000 ABC purchased equipment on January 1 at a list price of $100,000, with credit terms 2/10, n/30. Payment was made within the discount period and ABC was given a $2,000 cash discount. ABC paid $6,000 sales tax on the equipment, and paid installation charges of $2,000. Prior to installation, ABC paid $4,000 to build a foundation on which to place the equipment. What is the total cost of the new equipment? O $98,000 O $112.000 O $110,000 O $106.000