31. Alvarado Company began the current month with inventory costing $22,115, then purchased inventory at a cost of $57,540. The perpetual inventory system indicates that inventory costing $64,628 was sold during the month for $65,850. If an inventory count shows that inventory costing $13,200 is actually on hand at month-end, what amount of shrinkage occurred during the month?

a. $1,827

b. $8,310

c. $15,027

d. $13,195

32. Wool Co. makes a sale and collects a total of $407.00, which includes an 10% sales tax. What is the amount that will be credited to the Sales Revenue account?

a. $368.00

b. $447.70

c. $407.00

d. $370.00

37. Grandview, Inc. uses the allowance method. At December 31, 2018, the companys balance sheet reports Accounts Receivable, Net in the amount of $21,000. On January 2, 2019, Grandview writes off a $2,300 customer account balance when it becomes clear that the customer will never pay. What is the amount of Accounts Receivable, Net after the write-off?

a. $18,700

b. $23,300

c. $2,300

d. $21,000

43. A corporate charter specifies that the company may sell up to 23 million shares of stock. The company issues 15 million shares to investors and later repurchases 4.5 million shares. The number of issued shares after these transactions have been accounted for is:

a. 19 million shares

b. 12 million shares

c. 15 million shares

d. 11 million shares

47. The asset account Office Supplies has a balance of $880 at the beginning of the year. The amount on hand at the end of the year is $660. The company has calculated the Supplies Expense for the year to be $5,100. Based on this information, what amount of office supplies was purchased during the year?

a. $5,760

b. $0

c. $4,440

d. $4,880