21.

17.

Which of the following would be considered a permanent account? a. Insurance expense of $5,000 b. Wages expense of $50,000 c. Unearned revenue of $50,000 d. Rent revenue of $100,000 A company billed customers for delivery services on account of $15,000. How does this affect the accounting equation? a. Decrease in assets (Accounts receivable) : Decreases in owner's equity (Fees eamed) b. Increase in assets (Accounts receivable); Decreases in owner's equity (Fees earned) c. Increases in assets (accounts receivable); Increase in owner's equity (Fees earned) d. Decreases in assets (Accounts receivable) ; Increase in owner's equity (Fees earned)