25. The adjusting entry to record expired insurance would be to debit a. Insurance Expense, Prepaid insurance b. Insurance Expense, Cash c. Cash insurance, Expense d. Prepaid Insurance, Cash and 26. The adjusting entry to record accrued salaries would be debit credit a. Salaries Expense, Cash b. Cash, Salaries Expense c. Salaries Expense, Salaries Payable d. None of the above 27. On January 1, 2018, Jardan Company acquired a machine for $1,090,000. The estimated u of the asset is five years. Residual value at the end of five years is estimated to be $60,000 Calculate the depreciation expense per year using the straight-line method a. $218,000 b. $206,000 c $266,000 d. $272,500 28. The Store Supplies account had a $180 debit balance at the end of the accounting perio adjustment for supplies used, and an inventory of $40 worth of unused supplies was on Which of the following is the required adjusting entry a. Debit Store Supplies Expense $40 and credit Store Supplies Expense $40 b. Debit Store Supplies Expense $40 and credit Store Supplies $40 c. Debit Store Supplies Expense $140 and credit Store Supplies $140 d. Debit Store Supplies $140 and credit Store Supplies Expense $140 29. When we returned damaged merchandise for resale to our vendor and received cast would be recorded in the a. Sales journal. b. General journal. c Cash payments journal d. Cash receipts journal 30. Which of the following would have the longest estimated useful life for depreciat a. Computer b. Store supplies c. Building d. Inventory 1. The withdrawals by an owner have what effect on owner's equity a. Increases b. Decreases c No effect