1. Which one of the following would NOT appear in the closing entries for the year?

Accounts Payable $2,300

Accounts Receivable 3,450

Cash 2,700

Common Stock 4,700

Cost of Goods Sold 13,000

Dividends Payable 1,200

Inventory 7,900

Insurance Expense 3,800

Land 7,700

Prepaid Rent Expense 1,200

Retained Earnings (beginning) 2,600

Sales Revenue 21,000

Unearned Revenue 700

Wage Expense 6,200

Utilities Expense 3,100

Group of answer choices

a. DEBIT to Retained Earnings for $6,200

b. DEBIT to Retained Earnings for $13,000

c. CREDIT to Retained Earnings for $21,000

d. CREDIT to Retained Earnings for $700

e. DEBIT to Retained Earnings for $3,800

2. The beginning balance in Uchtdorf Company's Accounts Payable account was $10,000. During the month, the following four journal entries (involving accounts payable) were recorded:

a. Inventory 3,700

Accounts Payable 3,700

b. Accounts Payable 8,500

Cash 8,500

c. Accounts Payable 400

Inventory 400

d. Inventory 4,000

Cash 1,000

Accounts Payable 3,000

Compute the ending Accounts Payable balance.

Group of answer choices

a. $7,800

b. $12,200

c. $2,600

d. $1,200

e. $7,400