21. How does the accrual of interest on a note payable on December 31, 2020 impact a company's balance sheet? a. This will not affect the balance sheet b. Increase to liabilities C. Increase to assets d. Decrease to liabilities 22. Which subtotal can be found in a classified balance sheet? a. Total operating expenses b. Total current expenses c. Total current assets d. Gross profit 23. Bellevue Inc. received but did not pay their December utility bill. What entry should Bellevue record to capture this transaction in the accounting records? a. Debit to utilities payable, Credit to utilities expense b. Debit to utilities expense, Credit to utilities payable c. Debit to cash, Credit to utilities expense d. Debit to utilities payable, Credit to cash 24. The journal entry for depreciation impacts which accounts? a. Accumulated depreciation and depreciation expense b. Allowance for doubtful accounts and uncollectible accounts expense c. Cost of goods sold and inventory d. Depreciation expense and equipment 25. All Star Bakery collected a $50 deposit from Sally for a birthday cake to be delivered next month. What is the journal entry to capture this transaction? a. Debit to cash, Credit to unearned revenue b. Debit to cash, Credit to revenue C. Debit to unearned revenue, Credit to cash d. Debit to revenue, Credit to cash