8%. The notceved from a customer a 9-month. S 500,000 note bearing interest of e note is signed on October 1. is the adjusting entry to be made on December 31. for the interest aserued to that date? A) Debit - Interest Receivable $30,000 B) Debit- Interest Expense $10,000 C) Debit-Interest Receivable S10,000 D) Debit - Interest Expense $30,000 Credit - Interest Revenue $30,000 Credit - Interest Payable $10,000 Credit - Interest Revenue $10,000 Credit - Interest Payable $30,000 11 . windy Co. billed a client for services performed, which entry should the bookkeeper make to record the invoice? A) Debit - Accounts Receivable; Credit-Fees Eamesd B) Debit - Fees Earned; Credit-Accounts Receivable C) Debit - Cash; Credit - Fees Earned D) No entry until the cash is received 12. Which of the following accounts will not be closed at the end of the year? A) Utilities Expense B) Fees Earned C) Prepaid Insurance D) Miscellaneous Expense 13. Kline Company had the following sales and accounts receivable balances at the end of the current year: S3,000,000 100,000 Net credit sales Net accounts receivable 1/1 400,000 Net accounts receivable 12/31 Assuming a 360-day year what is Kline's average collection period (days' sales in receivables) for its accounts receivables? A) 48.0 days B) 30.0 days C) 22.5 days ) 12.0 days