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Ans: D

The entry is
debit credit
cash 16000
loss on sale of asset 3000
asset 19000
(Being asset sold for cash)

net decrease in assets = 19000-16000 = 3000


Required 1

table or calculator function PVA of $1


payment 5300
n= 5
i= 12%
PV-12/31/2018 19105

calculation : 5300*3.60478 19105 (from PVA of $1 table)

required 2

PVAD = 5300*4.03735 = 21398 (from PVAD table)

required 3
payment PV of $ 1 PV n i= 3 % since componded quarterly
first payment 5300 0.88849 4709 4
second payment 5300 0.78941 4184 8
third payment 5300 0.70138 3717 12
fourth payment 5300 0.62317 3303 16
fifth payment 5300 0.55368 2935 20
total 18848
nded quarterly