41. During August, Gallery Corp. purchased $4,000 worth of supplies. At August 31 the adjusted balance in the Supplies account was $2,800. The adjusting entry included a $1,200 debit to Supplies Expense. True False 42. In accrual basis accounting, accrued revenues are recorded as liabilities. True F False 43. On January 8, Gallery Corp. records $5,000 of accrued salaries. On January 15, $10,000 of salaries are paid. The entry on January 15 includes a debit to the Salaries Payable account. True False 44. On April 1, Gallery Corp. entered into a two-month contract for $50,000. Gallery Corp. earned