8.The following is the Adjusted Trial Balance for ABC company at Dec, 31st 2020 ...................................................................................ABC .....................................................................Adjusted Trial Balance ........................................................................As of Dec, 31st 2020 Account Name ..................................Debit ...............Credit Cash.......................................................4000 Supplies ...............................................17000 Equipment ...........................................32000 Share capital..................................................................33000 Retained earnings.........................................................12000 Dividends...............................................2000 Salaries expense ..................................3000 Advertising expense ...........................1000 Service revenue ............................................................14000 Total ........................................................59000 .............59000 Retained earnings in the post closing trial balance would be:(2 Points)

22000

8000

24000

20,000

....................................

9.Hardwood Supplies Inc. purchased a 12-month insurance policy on March 1, 2017 for 3,000. At March 31, 2017, the adjusting journal entry to record expiration of this asset will include a .(2 Points)

debit to Prepaid Insurance and a credit to Cash for 3,000.

debit to Insurance Expense and a credit to Prepaid Insurance for 500

debit to Insurance Expense and a credit to Prepaid Insurance for 250

debit to Prepaid Insurance and a credit to Insurance Expense for 300.