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The straight-line method of amortization allocates the amount of bond premium or discount over each period of a bond's life in amounts corresponding to the bond's carrying value. True or False True False On January 2, 2018, AAA Publishing, Inc. received a one-year subscription for $100 to one of the magazines that it publishes. At that time, it debited cash for $100 and credited Deferred Revenue for $100. After all the magazines have been delivered through December 31, 2018, what journal entry needs to be recorded? Multiple Choice Debit Cash for $100 and credit Deferred Revenue for $100 O. Debit Accounts Receivable for $100 and credit Subscription Revenue for $100 Debit Accounts Receivable for $100 and credit Deferred Revenue for $100 O Debit Deferred Revenue for $100 and credit Subscription Revenue for $100 A company issues a 5-year bond with a $7,500 discount. Using straight-line amortization, the company should: Multiple Choice debit Discount on Bonds Payable for $1,500 per year. O credit Discount on Bonds Payable for $1,500 per year. debit Interest Payable for $1,500 per year. O O credit Interest Expense for $1,500 per year. Consider the following information for Maynor Company, which uses a periodic inventory system: January 1 March 28 August 22 October 14 Goods Available for Sale Transaction Beginning Inventory Purchase Purchase Purchase Units 30 40 60 65 195 Unit Cost Total Cost $ 80 $ 2,400 3, 440 90 5, 400 96 6,240 $17, 480 The company sold 65 units on May 1 and 60 units on October 28. Required: Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing methods. a. FIFO b. LIFO c. Weighted Average Complete this question by entering your answers in the tabs below. Required A Required B Require FIFO Ending Inventory Cost of Goods Sold Required A Required B Requir: LIFO Ending Inventory Cost of Goods Sold Required A Required B Required Weighted Average (Round the per unit cost to two decimal places and then round your answers to the nearest whole dollar.) Ending Inventory Cost of Goods Sold