10. Which of the following journal entries reflect transactions made under the perpetual inventory system? a. Dr. Cost of goods sold; Cr. Purchases b. Dr. Purchases; Cr. Accounts payable c. Dr. Merchandise Inventory; Cr, Purchases d. Dr. Cost of goods sold; Cr. Merchandise inventory 11. Under the Jordanian tax law no. (34) For 2014, which of the following are the effective company income tax percentages: a. Industrial Companies 14\%, Commercial 20%, Services 20% b. Industrial Companies 20%, Commercial 14%, Services 14% c. Industrial Companies 24%, Commercial 20%, Services 14% d. Industrial Companies 20%, Commercial 20%, services 14% 12. At the beginning of the year, a company had a two-year insurance policy of 1,200 JD. On July 1 st, it purchased new three-year policy of 1,800JD for a newly constructed building. At December 31 . year-end, the adjusting entry would be: a. DR Insurance Expense 3,000; CR Prepaid Insurance 3,000. b. DR Insurance Expense 1,200; CR Prepaid Insurance 1,200. c. DR Insurance Expense 600; CR Prepaid Insurance 600 . d. DR Insurance Expense 900; CR Prepaid Insurance 900