1)

Poker Company has an agreement with a major bank that issues a credit card. The bank agrees that cash will be received immediately upon deposit of Poker customers' credit card sales receipts. The bank receives 3% of card sales as its fee. If Poker has $6,300 in credit card sales, which of the following statements is the correct entry in the accounts?

A. Debit cash $6,300; credit bank fees expense $189, and credit sales $6,111.

B. Debit cash $6,111; debit bank fees $189, and credit sales $6,300

C. Debit cash $6,300; debit bank fees $189, and credit sales $6,111

D. Debit sales $6,300; credit bank fees $189 and credit cash $6,111.

2)

Black Company's unadjusted and adjusted trial balances on December 31 of the current year are as follows:

Present the four adjusting journal entries that were recorded by Black Company before arriving at the adjusted trial balance.

3)

12. A company omitted the following adjusting entries in its financial statements for the year ended December 31, 2014. a. Accrued service fees earned of $2,200 b. Depreciation expense of $8,000 c. Portion of office supplies (an asset) used, $3,100 d. Accrued salaries of $5,200 e. Revenues of $7,200, originally recorded as unearned, have been earned by the end of the year.

Determine the correct amounts for the December 31 financial statements by completing the following table:

Cash Prepaid insurance Equipment Accumulated depreciation- Unadjusted Trial Balance 4,000 1,600 9,000 Adjusted Trial Balance 4,000 1,200 9,000 Equipment.. Salaries payable Unearned repair fees Repair fees earned. Salaries expense Depreciation expense-Equip Insurance expense Black, Capital 1,800 1,000 600 11,900 900 2,500 10,000 3,500 4,500 900 1,100 700 5.400_ 5,400 18,800 18.80020.700 20,700