10. On August 13, 2014, Swell Maps Enterprises purchased equipment for $1,300 and supplies of $200 on account. Which of the following journal entries is recorded correctly and in the standard format? a. Equipment Account Payable Supplies < b. Equipment. < Supplies Accounts Payable c. Accounts Payable Equipment.. Supplies d. Equipment Supplies Accounts Payable. AACSB: RT AICPA BB: CT AICPA FN: Reporting 1,300 1,500 200 1,300 < 200 1,500 1,500 1,300 < 200 1,300 < 200 1,500 11. Under accrual-basis accounting a. cash must be received before revenue is recognized. < b. net income is calculated by matching cash outflows against cash inflows. < c. events that change a company's financial statements are recognized in the period they occur rather than in the period in which cash is paid or received. < d. the ledger accounts must be adjusted to reflect a cash basis of accounting before financial statements are prepared under generally accepted accounting principles. < AACSB: Analytic, AICPA BB: None, AICPA FN: Reporting, AICPA PC: Communication