24. The employee is responsible for which of the following payroll taxes? A. Federal and state income tax B. State unemployment taxes C. Federal unemployment taxes D. All of the above 25. On August 31, 2018, Allright Services received $3,500 in advance of performing the service Which joumal entry is needed to record the receipt of cash? A) Debit Uneamed Revenue $3,500, and credit Cash $3,500 B) Debit Cash $3,500, and credit Service Revenue $3,500 C) Debit Unearned Revenue $3,500, and credit Service Revenue $3,500 cD) Debit Cash $3,500, and credit Unearned Revenue $3,500 5. On December 12, Howard's Hardware sells materials for $7,800 to John Smith. Smith signs a 60-day promissory note at 7% annual interest. On December 12, the journal entry made by Howard's Hardware for the sale to John Smith will include a A. credit to Sales Revenue for $7,800 B. debit to Accounts Receivable for $7,710 C. credit to Interest Revenue for $90 D. debit Interest Receivable for $90 6. Which of the following statements is TRUE? A) Accounts receivable are more liquid than cash B) Notes receivable are always classified as current assets C) Notes receivable usually have longer collection terms than accounts receivable D) Accounts receivable are liabilities