6. Which of the following accounts is a permanent (real) account? A. Accounts payable. B. Salaries expense. C Fees earned D. Office supplies expense. E Interest revenue. 7. The operating cycle for a merchandiser that sells only for cash moves from: A. Inventory to purchases of merchandise to cash sales. B. Purchases of merchandise to inventory to cash sales. C Accounts receivable to purchases of merchandise to inventory to cash sales. D. Accounts receivable to inventory to cash sales. E. Purchases of merchandise to inventory to accounts receivable to cash sales. 8. Fragment Company is a wholesaler that sells merchandise in large quantities. Its catalog indicates a list price of $300 per unit on a particular product and a 40% trade discount is offered for quantity purchases of 50 units or more. The cost of shipping the merchandise is $7 per unit under terms FOB shipping point. If a customer purchases 100 units of this product, what is the amount of sales revenue that Fragment will record from this sale? A. $30,000 B. $30,700 C $18,000 D. $29,300 E. $18,700 9. A company borrowed $10,000 by signing a 180-day promissory note at 9%. The maturity value of the note is: (Use 360 days a year.) A. $10,075 B. $10,300 C$10,450 D. $11,800 E $10,900 10. A company purchased property for $100,000. The property included a building, a parking lot, and land. The building was appraised at $62,000; the land at $35,000, and the parking lot at $18,000, Land should be recorded in the accounting records with an allocated cost of: A. $100,000 B. $35,000 C$30,435. D. $46,087. E. $0