8A company that uses a perpetual inventory system pays their accounts payable balance within the early payment discount and takes the discount. The resulting entry includes an increase to stockholders equity.

True

False

9.A lessor records the profit on sale at the inception of a sales-type lease.

True

False

10If an employee earns vacation time in 2020 and uses the vacation time in 2021, the expense related to the vacation occurs in 2021.

True

False

11Redeeming a bond early results in a loss.

True

False