Crawford Company has total proceeds (before segregation of sales taxes) from sales of $11,130. If the sales tax is 6%, the amount to be credited to Sales Revenue is: Select one: a. $10,462. b. $10,500. c. $11,798. d. $11,130. On October 1, 2016, Pennington Company issued a 100,000, 10%, nine-month interest- bearing note. Assuming interest was accrued in June 30, 2017, the entry to record the payment of the note on July 1, 2017, will include a Select one: a. debit to Interest Payable of 7,500. b. debit to Interest Expense of 2,500. c. debit to Notes Payable of 107,500. d. credit to Cash of 100,000 Never Company developed the following information about its inventories in applying the lower-of-cost-or-net realizable value (LCNRV) basis in valuing inventories: Product Cost NRV A $171,000 $180,000 B 120,000 114,000 240,000 243,000 If Never applies the LCNRV basis, the value of the inventory reported on the statement of financial position would be Select one: a. $525,000. b. $531,000. c. $543,000. d. $537,000 Keyser Company's record of transactions for the month of April is as follows. Purchases Sales April 1 (Balance on hand) 600 $6 April 500 @ $10 8 800 6.4 11 600 11 21 700 6.6 27 900 12 Total 2,100 Total 2,000 Assuming that perpetual inventory records are kept in both units and dollars, the cost of goods sold during April using FIFO is Select one: a. 12,680 b. 10,080 c. 13,840 d. 9,820 Keyser Company's record of transactions for the month of April is as follows. Purchases Sales April 1 (Balance on hand) 600 @ $6 April w 500 $10 8 800 @ 6.4 111 600 11 21 700 @ 6.6 7 900 @ 12 Total 2,100 Total 2,000 Assuming that perpetual inventory records are kept in both units and dollars, the inventory at April 30 using FIFO is Select one: a. $1,950 b. $660 c. $2,120 d. $840