Question: 4) ABC bought a tractor for $80,000 with a useful life of 4 years and a salvage value of $5000 on 1- 1-19. How
4) ABC bought a tractor for $80,000 with a useful life of 4 years and a salvage value of $5000 on 1- 1-19. How much deprecation should be taken in 2019, 2020, 2021 and 2022 using the double declining balance method 5) ABC bought a tractor for $50,000 with a 5% interest rate on credit on 1-1-21. They are making 4 annual payments on this tractor. Prepare the journal entry for the purchase and each of the 4 subsequent payments using the unequal payment method. 6) ABC bought a building for $250,000 with a 6% interest rate on credit on 1-1-18 with a. Use a mortgage calculator to determine the monthly payment amount assuming a 30 year term. The first payment is due on 2-1-18. Prepare the journal entries on 1-1-18, 2-1-18, and 3-1-18.
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