A business maintains subsidiary accounts for each of its customers. On May 15, the business provides services on account: $2,100 to customer J. Anthony; $4,200 to customer A. Martin; and $1,500 to customer S. Lee. Which journal entry is needed to record these transactions? A. May 15 Service Revenue 7,800 Accounts Receivable 7,800 B. May 15 Accounts Receivable - J. Anthony 2,100 Accounts Receivable A. Martin 4,200 Accounts Receivable S. Lee 1,500 Service Revenue 7,800 C. May 15 Accounts Receivable 7,800 Service Revenue 7,800 D. May 15 Accounts Receivable Control 7,800 Sales Revenue 7,800 Bachman, Inc. plans to develop a shopping center. In the first quarter, the following amounts were incurred: Acquisition of land Surveys and legal fees Land clearing Fencing Install lighting and signage $25,000 700 400 4,000 1,160 What amount should be recorded as the cost of the land in the corporation's books? OA. $30,100 B. $29,400 OC. $27,260 OD. $26,100 Use the following to calculate the acid - test ratio. (Round your answer to two decimal places.) Cash Short-term investments $120,000 18,000 Net current receivables 260,000 Inventory 280,000 Total current liabilities 750,000 OA. 0.74 OB. 0.9 C. 0.53 D. 6.67