21.Red Wings, Inc. maintains their accounting records on a cash basis. The following information is provided for 2017: Accrual-basis 2017 Expense for Insurance and Wages is:

Select one:

a. $30

b. $25

c. $20

d. $40

e. $34

22.

The following account balances (normal balances) were taken from the journal entry used to transfer various merchandise amounts under a periodic inventory system into the Cost of Goods Sold account: Based on the above facts, what was the ending inventory?

Select one:

a. $39,200

b. $8,800

c. $19,800

d. $21,500

e. $29,500

100 Decrease in Wages Payable from 1/1 to 12/31 Cash Collected from Customers 12/31 Accounts Receivable 12/31 Accounts Payable Cash paid to vendors 1/1 Accounts Payable 1/1 Accounts Receivable 1/1 Prepaid Insurance Cash Paid for Wages and Insurance 12/31 Prepaid Insurance V NOO Cost of Goods Sold Inventory (beginning) Freight-In Purchase Discounts Purchases Purchase Return $200,000 79,000 5,500 4,000 145,000 5,700