26. On May 31 of the current year, the assets and liabilities of Riser, Inc. are as follows: Cash $20,500; Accounts Receivable, $7,250 Supplies, $650; Equipment, $12,000; Accounts Payable, 9,300. What is the amount of owner's cquity as of May 31 of the current ycar? A) $8,300 B) S13,050 C) $20,500 D) $31,100 E) $40,400 27. Which of the following does not require an adjusting entry at year-end? A) Accrued interest on notes payable. B) Supplies used during the period. C) Cash invested by owner D) Accrued wages. E) Expired portion of prepaid insurance 28. Incurred but unpaid expenses that are recorded during the adjusting p expense and a credit to a liability are A) Intangible expenses. B) Prepaid expenses. C) Unearned expenses. D) Net expenses E) Accrued expenses. rocess with a debit to an 29. On April , Griffith Publishing Company r subscriptions to several different magazines. The company credited Uncamed Fees for the amount received and the subscriptions started immediately. What is the adjusting entry that should be recorded by Griffith Publishing Company on December 31 of the second year? A) debit Uncarned Fees, S1,548; credit Fees Earned, S1,548 B) debit Uncarned Fees, $516; credit Fees Earned, S516 C) debit Unearned Fees, $1,161; credit Fees Earned, S1,161 D) debit Unearned Fees, $129; credit Fees Earned, S129 E) debit Unearned Fees, S387; credit Fees Earned, $387 eceived S$1,548 from Santa Fe, Inc. for 36-montlh 30. A busincss uses a credit to record: A) An increase in an expense account. B) A decrease in an asset account. C) A decrease in an accounts payable account. D) A decrease in a revenuc account. E) A decrease in a capital account