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i have two questions On January 2, 2019McNallysExtraCorporationacquiredequipmentfor$120,000. The estimated life of...

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Accounting

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On January 2, 2019McNallysExtraCorporationacquiredequipmentfor$120,000. The estimated life of the equipment is 5 years or 20,000 hours. The estimated residual value is $20,000. What is the amount of depreciation expense for 2020 , if McNally's Extra Corporation uses the asset 4,000 hours and uses the units-ofproduction method of depreciation? $24,000$20,000$30,000$25,000 Question 19 (1 point) Trevino Company has decided to factor its accounts receivable in order to get the immediate receipt of cash. The journal entry to record the factoring of the receivables would include: a debit to Cash, debit to Financing Expense and credit to Accounts Receivable a debit to Cash and a credit to Accounts Receivable a debit to Cash, credit to Interest Revenue and credit to Accounts Receivable a debit to Accounts Receivable and a credit to Cash

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