16) BMCC has a weekly payroll of $50,000. December 31 falls on Thursday and BMCC will pay its employees the following Monday (January 4) for the previous full week. Assume that the company has a five-day workweek and has an unadjusted balance in Salaries Expense of $845,000 at December 31. Prepare the January 4 journal entry. 17) BMCC has a weekly payroll of $34,000. December 31 falls on Tuesday and the school will pay its employees the following Monday (January 6) for the previous full week. Assume that BMCC has a five-day workweek and has an unadjusted balance in Salaries Expense of $925,000 at December 31. What is the December 31 balance of Salaries Expense after adjusting entries are recorded and posted? 17) A) $925,000 B) $959.000 C) $938,600 D) $945,400 18) ABC hired a repair service to overhaul its plumbing system. The repair service began work on September 15 and intends to complete it on October 15. The business will pay the repair service $4,000 when the work is completed. As of September 30, the work was 50% complete. Provide the adjusting entry to accrue repair expense by the end of September. (Ignore explanation). 19) DEF hired a repair service to overhaul its plumbing system. The repair service began work on September 15 and completed it on October 15. The business agreed to pay the service $4,000 when the work was completed. As of September 30, the work was 50% complete, and the business made an adjusting entry to accrue repair expense as of the end of September. On October 15, the work was completed, and the repair service was paid in full. Provide the journal entry for the cash payment on October 15. (Ignore explanation). 20) On January 1, 2017, the Accounts Receivable of ABC had a debit balance of $190,000. During January, ABC provided services for $400,000 on account. ABC collected $240,000 from its customers on account in January. What was the ending balance in the Accounts Receivable account at the end of January? 20) 21) Delta is hired on December 15, 2018 to perform services, beginning on December 16, 2018. Under this agreement, Delta will earn $3900 monthly and receive payment on January 15, 2019. What amount of service revenue should be recorded for the year ending December 31, 2018? 21) A) $1950 BO $3900 D) There is not enough information to answer this. 22) ABC Company performed services of $8,000 on January 24 and invoiced the customer. ABC received the $8,000 on January 31. Provide the journal entry on January 24 when services were performed. (Ignore explanation.) 23) ABC Company performed services of $8,000 on January 24 and invoiced the customer. ABC received the $8,000 on January 31. Provide the joumal entry on January 31 when the cash was received. (Ignore explanation.) 24) ABC Company prepaid three months of office rent totaling $8700 on October 1, 2019. Assuming Williams records deferred expenses using the alternative treatment, what would be the entry on October 1, 2019? 24) 25) ABC Company prepaid eight months of office rent totaling $9000 on October 1, 2019. The rent period begins on October 1. Assuming ABC records deferred expenses using the alternative treatment, what would be the adjusting entry recorded on December 31, 2019? 25) A) Debit Rent Expense and credit Prepaid Rent for $3375 B) Debit Prepaid Rent and credit Rent Expense for $5400 Debit Prepaid Rent and credit Rent Expense for $5625 D) No entry is needed since Rent Expense was recorded on October 1, 2019 26) On September 1, ABC Company contracted to provide monthly maintenance services for the next five months at a rate of $2700 per month. The client paid ABC $13,500 on September 1. Assuming ABC records deferred revenues using the alternative treatment, what would be the entry on September 1? 26) A) Debit Cash and credit Unearned Revenue for $13,500 B) Debit Cash and credit Service Revenue for $13,500 Debit Prepaid Maintenance and credit Cash for $13,500 D) No entry is needed until the services are performed 27) On September 1, ABC Company contracted to provide monthly maintenance services for the next ten months at a rate of $2400 per month. The client paid ABC $24,000 on September 1. The maintenance services began on that date. Assuming BMCC records deferred revenues using the alternative treatment, what would be the adjusting entry recorded on December 31? 27) A) Debit Service Revenue and credit Unearned Revenue for $24,000 B) No entry is needed since revenue was recorded on September 1. C) Debit Uneamed Revenue and credit Service Revenue for $9600 D) Debit Service Revenue and credit Unearned Revenue for $14,400