1) On November 1, Carter Company signed a 120-day, 10% note payable, with a face value of $9,000. What is the maturity value of the note on March 1? Possible Answers A. $9,000 B. $9,100 C. $9,150 D. $9,200 E. $9,300 2) A special bank account used solely for the purpose of paying employees, by depositing in the account each pay period an amount equal to the total employees' net pay and drawing the employees' payroll checks on the account, is a(n): Possible Answers A. Federal depository bank account. B. Employee's Individual Earnings account. C. Employees' bank account. D. Payroll register account. E. Payroll bank account. 3) Arena Company's salaried employees earn two weeks vacation per year. It pays $858,000 in total employee salaries for 52 weeks but its employees work only 50. Record Arena Company's weekly journal entry to record the vacation expense: Possible Answers A. Debit Vacation Benefits Expense $16,500; credit Vacation Benefits Payable $16,500. B. Debit Vacation Benefits Expense $17,160; credit Vacation Benefits Payable $17,160. C. Debit Vacation Benefits Expense $17,875; credit Vacation Benefits Payable $17,875. D. Debit Vacation Benefits Payable $17,160; credit Vacation Benefits Expense $17,160. E. Debit Vacation Benefits Payable $16,500; credit Vacation Benefits Expense $16,500. 4) A company estimates that warranty expense will be 4% of sales. The company's sales for the current period are $185,000. The current period's entry to record the warranty expense is: Possible Answers A. Debit Warranty Expense $7,400; credit Sales $7,400. B. Debit Warranty Expense $7,400; credit Estimated Warranty Liability $7,400. C. Debit Estimated Warranty Liability $7,400; credit Warranty Expense $7,400. D. Debit Estimated Warranty Liability $7,400; credit Cash $7,400. E. No entry is recorded until the items are returned for warranty repairs