5. Johnson Company began the accounting period with a $37,000 debit balance in its accounts receivable account. During the accounting period, the company recorded revenue on account amounting to $83,000. The accounts receivable account at the end of the accounting period had a $29,000 debit balance. Based on this information, the cash collected from accounts receivable during the period is A. $ 91,000 B. $ 75,000 C. $ 54,000 D. $ 8,000 6. Benson Co. purchased land and paid the full purchase price in cash. The journal entry necessary to record this event includes a: A. debit to land and a debit to Cash. B. debit to Cash and a credit to Land. C. debit to Land and a credit to Cash. D. credit to Land and a credit to Cash. 7. Which of the following is increased with a credit to the account? A. Rent Payable B. Prepaid Rent C. Rent Expense D. Cash 8. The information in the following T-accounts of Spalding Company indicates that: Cash 1,500 Unearned Revenue 1,500 A. Spalding has paid cash to a company that will provide future services to Spalding. B. Spalding has completed services for which they had previously received cash in advance. C. Spalding has provided services to a customer on account. D. Spalding has received cash from customers for services to be provided by Spalding in the future