Yanri Corporation's unadjusted trial balance includes the following balances (assume normal balances): Accounts Receivable $5,357,000 43,900 .Allowances for Doubtful Accounts Using an aging schedule, bad debts are estimated to be 4% of outstanding receivables. What amount of bad debt expense will the company record? A. $214,280 B. $170,380 C. $258,180 D. $212,524 On June 30, year 1, a machine with a useful life of ten years and a residual value of $10,000 was purchased for $75,000. What is the depreciation expense for year 2 under straight-line depreciation? A. $6,500 B. $13,000 C. $3,250 D. $23,000 Which of the following statements are true? A. Recognizing Depreciation results in the accumulation of cash for asset replacement B. Depreciation does not apply to Land C. Depreciation is an example of the Matching Principle D. A & B are true E. B&C are true Which of the following does not represent a current liability? Income Tax Payable Nine month Loan A. B. C. Bonds Payable D. Dividend Payable Amelia Enterprises borrowed $40,000 on March 1st of the current year by signing a 2 month, interest bearing note. Assuming that no entries for interest have been recorded to date, when 1 note is paid on April 30th, the entry to record the payment on Amelia's books should include A. Interest Expense $3,600 B. Interest Expense $600 C. Interest Revenue $3,600 D. Interest Revenue $600 When a bond sells at a premium: A. The stated (contract) rate is above the market rate (effective rate) B. The stated (contract) rate is equal to the market rate (effective rate) C. The stated (contract) rate is below the market rate (effective rate) D. The bond pays no interest