2 pts Question 46 Amanda's Fashions, LLC paid for a utility bill of $150 on 1/25/20 that had been previously (and properly) accrued on 12/31/19 for utilities used in December. What journal entry was made (properly) on Amanda's Fashions, LLC's books on 12/31/19? O Debit: Utilities Payable $150 Credit: Utilities Expense $150 O Debit: Prepaid Utilities $150 and Credit: Cash $150 Debit: Utilities Expense $150 and Credit: Utilities payable $150 Debit: Utilities payable $150 and Credit: Cash $150 Question 17 1 pts Question 47 If XYZ Company has $25,000 of net income for the year, which of the following statements regarding closing entries is true? O The company will need to credit retained earnings for $25,000 The company will need to debit retained earnings The company will need to credit income summary The company will need to debit contributed capital c 10 Question 50 2 pts Bianca's Biscuit Company has the following accounts and balances: Cash $43,000, Accounts Receivable, $20,000, Supplies: $2,000, Land: $35,000, Trademark: $3,000. What will the balance be for Current Assets? $103,000 $100,000 $63,000 $65,000 Question 51 2 pts At the end of the year, your company has Service revenues of $100,000 and unearned revenues of $50,000. Which is the correct closing entry? O Debit: Income Summary $100,000 and Credit: Service revenues $100,000 Debit: Service revenues $100,000 and Credit: Income Summary $100,000 O Debit: Service Revenues $100,000 Debit: Unearned revenues $50,000 and Credit: Income Summary $150,000 Debit : Income Summary $150,000 and Credit: Service revenues $100,000 and Credit: Unearned revenues $50,000