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Question 1 (3 points) Saved Brainerd Manufacturing had revenues of $3,100,000 for the year. Their operating expenses were $1,100,000 and their income from operations was $400,000. How much was their cost of goods sold (COGS)? $1,500,000 $1,600,000 $2,700,000 $1,200,000 DOCX Question 3 (3 points) Saved Slackco allowed the same staff members to receive customer payments, enter the payments into the company's accounting system, and deposit the amounts into the company's bank account. This system demonstrates an issue at Slackco related to ESUME pressure opportunity establishment of responsibility rationalization Question 5 (3 points) Swed On August 1, Gulfdream Aviation accepted a note receivable from Stardust Enterprises. It was a six-month 12% interest note for $10,000. After five months at the end of the year, Gulfdream prepared financial statements. Stardust has not yet paid the note off. Which entry will Gulfdream make after five months? Irvin Debit Interest receivable $1,200 Credit Interest revenue $1,200 Debit Interest receivable $600 Credit Interest revenue $600 Debit Interest receivable $500 Credit Note receivable $500 Gulfdream should make no entries at the end of the year, they make no entries until the note is paid in full Debit Interest receivable $500 Credit Interest revenue $500 Question 10 (3 points) Saved Blaze Corporation is purchasing a copier on account from Page Incorporated. Page has extended credit to Blaze on terms of 3/15. n/45. The purchase that Blaze made from Page was on March 15th and was a copier costing $1,000. If Blaze pays Page in full on March 28th, what will be their discount on the goods? $15 $0 $45 $30 Saved Question 9 (3 points) Tracee was the petty cash custodian for Big Barrel of Fun, Incorporated. The petty cash fund at MMI was set at $100. Asia requested a check to replenish the petty cash fund. The fund contained $15 in cash and had receipts for toner expense for $36, copier paper expense of $22, freight-out charges of $20 and miscellaneous expenses for $5. Which of the following would be the correct journal entry for the request for reimbursement? FU 9 Debit Existing Cash $15 Debit Toner expense $36 Debit Copier paper expense $22 Debit Freight-out $20 Debit Miscellaneous expense 55 Debit Cash over and short $2 Credit Cash $100 Debit Toner expense $36 Debit Copier paper expense $22 ty A vera 3 Question 7 (3 points) Saved Racetech Systems, a company that distributes custom motorcycle suspension, has a perpetual inventory system. Racetech sold a suspension system to a customer for $3,000 on account. The system had been purchased by Racetech from a manufacturer for $1,800. Which of the following entries would Racetech record on the sale of the bike? TUM 6 9 Debit Accounts receivable $3,000 Credit COGS $3,000 Debit Revenue $1,800 Credit Inventory $1,800 Debit Accounts receivable $3,000 Credit Revenue $3,000 Debit COGS $1,800 Credit Inventory $1,800 Debit Revenue $3.000 Credit Inventory $1,800 00 Time Left:0:12:01 Kenzie Stulack: Attempt 1 Question 6 (3 points) Saved REM Corporation had the following in their accounts receivable aging report: $20,000 (Not yet due): $12,000 (1-30 days past due): $4,000 (31-60 days past due) $2,000 (Over 60 days past due). REM accountants estimate that 3% of accounts not yet due will be uncollectible, 5% of accounts 1-30 days past due will be uncollectible, 10% of accounts 31-60 days past due will not be collectible and 30% of accounts over 60 days past due will be uncollectible. Which of the following represents REM'S total estimated uncollectible accounts? RUM $600 $38.000 $0 . $2,200 Question 7 (3 points) Saved