4. At year-end, a payment was made covering mortgage interest for one year, plus a $10,000 payment on the principal. 5. Office equipment costing $3,000, with a book value of $1,000, was sold for...

4. At year-end, a payment was made covering mortgage interest for one year, plus a $10,000 payment on the principal.

5. Office equipment costing $3,000, with a book value of $1,000, was sold for $1,800 cash. The gain is unrestricted.

6. Fully depreciated equipment costing $7,000 was written off. There was no scrap value.