D) Service Revenue 5) The asset account, Office Supplies had a beginning balance of $5700. During the accounting period, office supplies were purchased, on account, for $5100. A physical count, on the last day of the accounting period, shows $2000 of office supplies on hand. What is the amount of Supplies Expense for the accounting period? A) $8800 B) $5100 C) $3700 D) $2600 6) If an adjusting entry includes a debit to Rent Expense, it indicates that the payment of rent had been previously recorded as a(n) A) accrued expense B) accrued revenue C) deferred expense D) depreciation expense 7) A depreciable asset's cost minus accumulated depreciation is called A) residual value C) book value B) accrued expense D) depreciable value & 8) Which of the following is the correct formula for calculating depreciation under the straight-line method? A) Straight-line depreciation - (Cost +Residual value)