Bauer Company, who sells college logo clothing, purchased $135,000 of supplies on account during 2020. On January 1, 2020, ABC had $38,000 in the supplies account and on December 31, 2020 a physical count of supplies revealed $44,000 still on hand. In the adjusting entry on December 31, 2020, what is the debit to supplies expense? Multiple Choice $ 59,000 O o $ 9000 $ 91,000 o $ 97,000 o $129,000 o Swenson Corporation on April 1, 2021, had $700 in the Unearned Revenue general ledger account. During 2021, Swenson received $8,000 of cash in advance for services to be performed at a later date. At the end of 2021, Swenson Corporation had not yet performed services worth $2,600. What would be included in the adjusting journal entry related to this information? Multiple Choice Debit Unearned Revenue for $ 5,400 Debit Unearned Revenue for $ 6,100 Credit Service Revenue for $ 9,900 Credit Service Revenue for $10,600 What accounting principle(s) cause a company to prepare closing journal entries? Multiple Choice 0 Matching Principle and Going Concern 0 Periodicity Perlodicity 0 Entity Concept 0 Accrual Principle and Historical Cost Bauer Company, who sells college logo clothing, purchased $135,000 of supplies on account during 2020. On January 1, 2020, ABC had $38,000 in the supplies account and on December 31, 2020 a physical count of supplies revealed $44,000 still on hand. In the adjusting entry on December 31, 2020, what is the debit to supplies expense? Multiple Choice $ 59,000 O o $ 9000 $ 91,000 o $ 97,000 o $129,000 o Swenson Corporation on April 1, 2021, had $700 in the Unearned Revenue general ledger account. During 2021, Swenson received $8,000 of cash in advance for services to be performed at a later date. At the end of 2021, Swenson Corporation had not yet performed services worth $2,600. What would be included in the adjusting journal entry related to this information? Multiple Choice Debit Unearned Revenue for $ 5,400 Debit Unearned Revenue for $ 6,100 Credit Service Revenue for $ 9,900 Credit Service Revenue for $10,600 What accounting principle(s) cause a company to prepare closing journal entries? Multiple Choice 0 Matching Principle and Going Concern 0 Periodicity Perlodicity 0 Entity Concept 0 Accrual Principle and Historical Cost