1. An insurance policy for two years was acquired on April1, 2019 for $24,000. The transaction was recorded with a debit to a Permanent account. Show the required adjustment entry on December 31, 2019.

2. The following information is given to you relating to Accounts Receivable:

Jan. 1, Balance $41,000,

Dec. 31, Balance $55,000,

Uncollectible accounts written off during

the year, $6,000;

Accounts receivable collected during the

year, $159,000.

Calculate the sales revenue to be recorded for the year.

3. Sales salaries paid during 2019 were $90,000.

Advances to salesmen were $1,100 on January 1, 2019,

and $800 on December 31, 2019. Sales salaries accrued were $1,360 on January 1,

2019, and $1,880 on December 31, 2019.

Show the computation of sales salaries on an accrual basis for 2019.