1. On November 30, a company had an Accounts Receivable balance of $6,300. During the month of December, total credits to Accounts Receivable were $100,000 from customer payments. The December 31 Accounts Receivable balance was $52,600. What was the amount of credit sales during December?

A.) $100,000

B.) $6,300

C.) $146,300

D.) $41,100

E.) $93,700

2. A company had revenue of $586,000, rent expense of $118,000, utility expense of $11,800, salary expense of $143,500, depreciation expense of $40,800, advertising expense of $42,000, dividends in the amount of $201,000, and an ending balance in retained earnings of $420,300. What is the beginning retained earnings for the period?

A.) $385,000

B.) $356,100

C.) $273,400

D.) $391,400

E.) $229,900

3. On June 30, 2014, Apricot Co. paid $6,900 cash for management services to be performed over a two-year period. Apricot follows a policy of recording all prepaid expenses in asset accounts at the time of cash payment. On June 30, 2014 Apricot should record:

A.) A credit to a prepaid expense for $6,900.

B.) A debit to Cash for $6,900.

C.) A debit to a prepaid expense for $6,900.

D.) A credit to an expense for $6,900.

E.) A debit to an expense for $6,900.

4. The Unadjusted Trial Balance columns of a company's work sheet show the balance in the Office Supplies account as $800. The Adjustments columns show that $450 of these supplies were used during the period. The amount shown as Office Supplies in the Balance Sheet columns of the work sheet is:

A.) $800 credit

B.) $450 debit

C.) $350 credit

D.) $800 debit

E.) $350 debit

5. A company's Office Supplies account shows a beginning balance of $960 and an ending balance of $580. If office supplies expense for the year is $8,500, what amount of office supplies was purchased during the period?

A.) $8,700

B.) $9,460

C.) $9,080

D.) $7,920

E.) $8,120