If a person is injured by a drug because a physician gives an improper dose, the maker may be protected from liability under the "learned intermediary" doctrine

On September 1, Crestview Company purchased equipment for $25,000. The equipment's estimated salvage value is $2,500. The machine will be depreciated using straight-line depreciation and a five year life. If the company prepares annual financial statements on December 31, the appropriate adjusting journal entry to make on December 31 of the first year would be a

A) $1,500 debit to Depreciation Expense and a $1,500 credit to Equipment. B) $4,500 debit to Depreciation Expense and a $4,500 credit to Equipment. C) $4,500 debit to Depreciation Expense and a $4,500 credit to Accumulated Depreciation. D) $4,500 debit to Depreciation Expense and a $4,500 credit to Cash. E) $1,500 debit to Depreciation Expense and a $1,500 credit to Accumulated Depreciation.

Accounts Receivable is a(n) ________ account and has a normal ________ balance

A) liability; debit B) asset; debit C) liability; credit D) asset; credit