Question
26. Does advertising expense increase with a credit or debit? a. Debit b. Credit c. Neither 27. Stella's Sales employees earned $2,000 in salaries during
26. Does advertising expense increase with a credit or debit? a. Debit b. Credit c. Neither 27. Stella's Sales employees earned $2,000 in salaries during December. The employees will be paid during the first week of January. What should Stella's Sales credit in the December 31, 2020 adjusting entry for labor? a. Salaries receivable b. Salaries expense c. Salaries payable d. Cash 28. On July 1, 2019, Move Bank purchased a new, high-tech copier for $5,080. If the copier has an estimated life of 5 years and no salvage value, then how much accumulated depreciation will be shown on the December 31, 2020 balance sheet? a. $1,254 b. $1,524 c. $1,016 d. $508 29. Apple Company recorded a journal entry that credited revenue. What is a possible explanation? a. Apple Company collected cash from a customer who previously charged on account. b. Apple Company provided a refund to a customer. c. Apple Company purchased inventory on account. d. Apple Company sold inventory to a customer
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