22) Jacobs Company owes $700 of federal corporate income taxes, which will be paid next month. The journal entry to record the federal income tax owed would be: A) Dr. Income Tax Expense 700 Cr. Income Tax Payable 700 B) Dr. Income Tax Payable 700 Cr. Income Tax Expense 700 C) Dr. Income Tax Expense 700 Cr. Cash 700 D) Dr. Income Tax Payable 700 Cr. Cash 700 23) On January 1, Talbert Services received $18,000 in advance for services to be performed for a customer over the next three months. What adjusting entry is needed at the end of each month when the services are performed? A) Dr. Service Revenue 18,000 Cr. Unearned Revenue 18,000 B) Dr. Service Revenue 6,000 Cr. Unearned Revenue 6,000 C) Dr. Unearned Revenue 18,000 Cr. Service Revenue 18,000 D) Dr. Unearned Revenue 6,000 Cr. Service Revenue 6,000 24) Cash received in advance of providing goods or performing services is recorded as: A) Unearned Revenue B) Accrued Revenue C) Service Revenue D) Uncollected Revenue 25) Which of these statements is TRUE about short-term notes payable? A) They usually involve interest and are to be paid within one month or less B) They usually do not involve interest and are to be paid within one month or le C) They usually do not involve interest and are to be paid within one year or les D) They usually involve interest and are to be paid within one year or less