Choose out of the 3 options given.

a) Sold merchandise to customers on credit.

b) Sold merchandise to customers on credit.

c) Purchased a two-year insurance contract.

d) Received cash for services to be performed over the next year.

e) Paid monthly employee salaries.

f) Borrowed money from First Bank by signing a note payable due in five years.

Identify and explain why each transaction may or may not require adjustment. a. Sold merchandise to customers on credit. The input in the box below will not be automatically graded, but may be reviewed and considered by your instructor. Will require an adjustment Will not require an adjustment May require an adjustment c. Purchased a two-year insurance contract. The input in the box below will not be automatically graded, but may be reviewed and considered by your instructor. d. Received cash for services to be performed over the next year. The input in the box below will not be automatically graded, but may be reviewed and considered by your instructor. e. Paid monthly employee salaries. Will not require an adjustment