15. A customer had work done on account in November, and this transaction is correctly reflected in the General Ledger. On December 31 2022, the customer paid for their work in full by providing ABC Company a piece of Equipment worth 2,000 instead of paying in cash. This December 31 transaction was not reflected in the year end General Ledger. The most reasonable adjusting entry at December 31 2022 should be: A. An increase in cash and an increase in Sales B. An increase in equipment an increase in sales C. No journal entry required D. A decrease in Accounts Receivable and an increase in Equipment E. A decrease in Accounts Receivable and a decrease in Equipment 16. On November 1, a customer paid $2,000 for work to be done at a later date. By the end of December, $500 of this work had been done. The most reasonable adjusting entry at December 31 2022 should be: A. An increase in cash of $500 and an increase in Revenues of $500 B. An increase in cash of $1,500 and an increase in Revenues of $1,500 C. A decrease in cash of $500 and a decrease in Deferred Revenue of $500 D. A decrease in Deferred Revenue of $500 and a decrease in Accounts Receivable of $500 E. A decrease in Deferred Revenue of $500 and an increase in Revenues of $500 17. In early January of the following year, when a bank reconciliation was being performed, it was noticed that a cheque that was correctly issued and recorded by ABC Company for $10,000.45 to pay a supplier was incorrectly processed by the bank for $10,000.54. The most reasonable adjusting entry at December 31 2022 should be: A. A decrease in accounts payable of $0.09, and an increase in bank charges of $0.09 B. A decrease in cash of $0.09 and an increase in bank charges of $0.09 C. An increase in cash of $0.09 and an increase in bank charges of $0.09 D. An increase in accounts receivable of $0.09, and an increase in bank charges of $0.09 E. A decrease in cash of $0.09 and an increase in accounts payable of $0.09 18. In early January of the following year, when ABC Company was performing a bank reconciliation, it was noticed that an item was Returned for $25,000 from one of ABC's regular and recurring customers. The customer had provided a cheque on December 31 2022 for services performed during the year. The services performed during the year had been correctly recorded. The most reasonable adjusting entry at December 31 2022 should be: A. A decrease in Cash of $25,000 and an increase in Accounts Receivable of $25,000 B. A decrease in Cash of $25,000 and an increase in Revenues of $25,000 C. A decrease in Cash of $25,000 and a decrease in Revenues of $25,000 D. An increase in Accounts Receivable and a decrease in Revenues of $25,000 E. An increase in Accounts Receivable and an increase in Revenues of $25,000 19. On October 1 2022, ABC Company paid $8,000 to rent a parking lot for the eight month period of November 1 2022 to June 30 2023. When the transaction was posted, the entire amount was expensed. The most reasonable adjusting entry at December 31 2022 should be: A. A decrease in cash of $8,000 and an increase in expenses of $8,000 B. A decrease in cash of $3,000 and an increase in expenses of $3,000 C. An increase in pre-paid expenses of $8,000 and an increase in expenses of $8,000 D. An increase in pre-paid expenses of $6,000 and decrease in expenses of $6,000 E. A decrease in cash of $6,000 and an increase in pre-paid expenses of $6,000 20. Wages of $1,200 were paid on January 3 2023, which was based on $500 for January 2023 wages and $700 for the prior month's wages. The most reasonable adjusting entry at December 31 2022 should be: A. A decrease in cash of $700 and an increase in wages expense of $700 B. A decrease in cash of $500 and an increase in wages expense of $500 C. A decrease in cash of $700, an increase in wages expense of $700 D. An increase in wages payable of $700 and an increase in wages expense of $700 E. A decrease in cash of $1,200, an increase in wages payable of $700, and an increase in wages expense of $500