Cougar Company, who sells college logo memorabilia, purchased $110,000 of supplies on account during 2020. On January 1, 2020, ABC had $44,000 in the supplies account and on December 31, 2020 a physical count of supplies revealed $38,000 still on hand. In the adjusting entry on December 31 2020, what is the debit to supplies expense? Multiple Choice 5 66,000 5116,000 $154,000 Swenson Corporation on January 1, 2021, had $400 in the Unearned Revenue account. During 2021, Swenson received $7,000 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 $1,900. What would be included in the adjusting journal entry related to this information? Multiple Choice Debit Unearned Revenue for $ 5,500. O O Debit Unearned Revenue for $5,100 O Credit Service Revenue for $5.500 O Cred Service Revenue for $1,900 What accounting principle(s) cause a company to prepare closing journal entries? Multiple Choice Matching Principle and Going Concern perioden Periodicity O Entity Concept O O Accrual Principle and Historical Cost Maggie's Haberdashery, which sells fascinators and other head coverings, had the following information in its ledger for the month of September, 202 Sales Revenue $ 245,000 Purchases Discounts 6.000 Cost of Goods Sold 108,400 Merchandise Inventory 83,000 Sales Discounts 800 Freight-In 8,500 Sales Returns 6,100 Freight-Out 3.800 What are Net Sales for the month of September? Multiple Choice O $232,900 O O O $238.100 O $244.200 O $322.000