Remaining Time: 1 hour, 25 minutes, 42 seconds. Question Completion Status: QUESTION 4 Martin Company purchases a machine at the beginning of the year at a cost of $60,000. The machine is depreciated using the straight- line method. The machine's useful life is estimated to be 4 years with a $5,000 salvage value. Depreciation expense in year 4 is: $55,000. O $15,000. O $60,000. O $13,750. $0. QUESTION 5 Jasper makes a $25,000, 90-day, 7% cash loan to Clayborn Co. Jasper's entry to record the transaction should be: Debit Accounts Receivable $25,000; credit Notes Receivable $25,000. O Debit Notes Payable $25,000; credit Accounts Payable $25,000. O Debit Notes Receivable $25,000; credit Sales $25,000. Debit Cash $25,000; credit Notes Receivable for $25,000. Debit Notes Receivable for $25,000; credit Cash $25,000. QUESTION 6 An asset can be disposed of by all of the following except Continuing to use it after it is fully depreciated Donating it to charity. OSelling Discarding it. O Exchanging it for another asset. Save All Ant