1.) Use the following information regarding Larson Company to answer the question below. 1. Established a petty cash fund in the amount of $250. 2. Reimbursed the petty cash fund given the following petty cash fund disbursements: a. Payment for postage, $20. b. Payment for supplies, $70. 3. Increased the petty cash fund to $300. 4. Cash over at the end of the first period was $5. The entry to record the reimbursement of the petty cash fund would include a

	a.	credit to Cash for $85.
	b.	debit to Petty Cash for $90.
	c.	credit to Postage Expense for $20.
	d.	debit to cash for $5.

2.)

A promissory note is executed in June. When the note is paid the following January, the payee's entry includes (assuming a calendar-year accounting period and no reversing entries) a

	a.	credit to Interest Receivable.
	b.	debit to Notes Receivable.
	c.	credit to Cash.
	d.	debit to Interest Income.

3)

A bond with a face value of $10,000 has a current price quote of 102.62. The price in dollars and cents is

	a.	$10,002.62.
	b.	$10,026.20.
	c.	$10,262.00.
	d.	$10,200.62.

4.)

Which of the following bank reconciliation items would not result in a journal entry?

	a.	Deposits in transit
	b.	NSF check of a customer
	c.	Service charge
	d.	Collection of a note by the bank

5.)

Which of the following is an example of a commitment?

	a.	Revenue received in advance
	b.	Purchasing agreement
	c.	Note payable
	d.	Dividend payable