Company purchases a truck worth $25,000, one-fourth of which is paid in cash, the balance due in a note payable in 2 years at 5% interest. 5. Company pays a $1,000 cash dividend to its owner 6. 7. Company makes a $1,000 payment on the payable on account in item #3 Utility expense of $1,200 for the month of September is paid 8. ev 9. At the end of September, the company sends out offers of employment to three individuals: Mr. Petit, Mr. Grand and Mr. Moyen. They will each be paid at a rate of $1,000 per week starting on the second full week of October. III. Multiple Choice. Six questions, four points each for a total of 24 points. 1. A company receives $360 for a 12-month trade magazine subscription on August 1. The adjusting entry on December 31 is a debit to Unearned Subscription Revenue of $150 and a credit to Subscription Revenue of $150. Hint: determine the monthly expense rate and count the number of months involved