34. Given the following information: $500.00 25.00 95.64 79.65 Petty cash balance Postage receipts Office Supplies receipts Business meal receipts Actual cash on hand at the end of the month 299.71 If the company replenishes petty cash at the end of each month, what is the amount for which petty cash needs to be reimbursed at the end of this month? A. $299.71 B. $500.00 C. $280.73 D. $200.29 any uses the percent of sales method to determine its bad debts expense. The company reported ad Debts Expense net sales of $900,000 fo estimates 0.5% of credit sales to be uncollectible, what amount should be debited to B when the year-end adjusting entry is prepared? A. $925 B. $1,225 C. $4,200 D. $4,500 r the year. All sales are made on credit. Based on past experience, the company 36. A machine with a cost of $50,000 has an estimated useful life of five years. The company estimates the machine will have no value at the end of the five years. If the company uses the straight-line method of depreciation, what would be the annual adjusting entry to record depreciation? A. Debit Machinery for $50,000 and credit Cash for $50,000. B. Debit Machinery Expense for $10,000 and credit Machinery for $10,000. C. Debit Depreciation Expense for $10,000 and credit Accumulated Depreciation-Machinery for $10,00o. D. Debit Accumulated Depreciation-Machinery for $10,000 and credit Depreciation Expense for $10,000. 37. Which of the following statements is true for the company that issues bonds? A. Interest paid on bonds is tax deductible. B. Interest paid on bonds is not tax deductible. C. Dividends paid to stockholders are tax deductible. D. Bonds are assets. 38. A bond traded (issued) at 102% means that: A. The bond pays 2.5% interest. B. The bond traded/was issued at $1,025 per $1,000 bond. C. The market rate of interest is 2.5%. D. The bonds were retired at $1,025 each