$3.00 Question 24 6.67 pts Unearned revenues resulting from advances from customers are considered a liability because: The company providing the goods or services has usually signed a note payable. The customer is obligated to buy from the company, The company receiving the advance has not performed services or provided the promised good. The customer is buying goods or services on account. HEWLETT PACKARD accounts receivable are usually evidenced by a formal written instrument notes receivable usually requires the payment of interest Question 23 6.66 pts A customer charges a home entertainment system at Consumer Electronics, Inc. The price is $1,000 and the financing charge is 3% per annum (360 days) if the bill is not paid in 30 days. The customer fails to pay the bill within 30 days and a finance charge is added to the customer's account. What is the amount of the finance charge? $30 $25 $2.50 $3.00 Question 22 6.66 pts Notes receivable are different from accounts receivable in that: payments accounts receivables are usually required after a longer duration of time accounts receivable is a long term asset while notes receivable is usually a current asset O accounts receivable are usually evidenced by a formal written instrument notes receivable usually requires the payment of interest Question 17 6.67 pts On April 1, 2018, Wyoming Mining Company purchased the mineral rights to a granite recoverable granite will be 500,000 tons over the next five years. During 2018 90,000 tons of granite were extracted. Using the units-of-activity method, the amount of the W Depletion Expense recognized for 2018 would be. Not enough information to determine the answer $324,000 $270,000 $360,000 IUSS UND 70, loss of $10,000 Question 15 6.67 pts XYX Company on January 1 sells merchandise on account to Dizzy Co. for $12,000. terms 2/10, n/30. On January 10 Eureka Co.returns merchandise worth $2,000 to XYZ Company. On January 28 payment is received from Dizzy Co.for the balance due. What is the amount of cash received? $11.760 O $12,000 0 $10,000 $9.800