Depreciation on company headquarters building was $7,000 for the year.

What is the adjusting entry on December 31 if no adjustments have been made during the year?

Group of answer choices

Debit buildings, credit depreciation

Debit depreciation expense, credit accumulated depreciation

Debit amortization expense, credit depreciation

None of the provided answers are correct

Debit depreciation expense, credit buildings

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Earlier, Acciscool wrote off a $4,200 customer account.

What is the entry if the customer unexpectedly pays Acciscool $3,000?

Group of answer choices

Debit AfUA, credit bad debt expense

Debit cash, credit Allowance for uncollectable accounts

Debit A/R and cash, credit AfUA and A/R

Debit A/R, credit bad debt expense

Debit cash, credit write-offs

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On Sep. 24, Acciscool sold $15,000 of merchandise which had cost $10,000 earlier in the month.

Group of answer choices

Debit cash 15,000 and COGS 10,000, credit sales revenue 15,000 and inventory 10,000

Debit cash 15,000, credit merchndise cost 10,000 and sales revenue 5,000

Debit COGS 10,000 and profit 5,000, credit sales revenue 15,000

Debit sales revenue 15,000, credit inventory 10,000 and profit 5,000

None of the provided answers are correct

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On May 7, Acciscool wrote off $1,000 that it was owed when it found that the customer had declared bankruptcy.

Group of answer choices

Debit allowance for uncollectable accounts, credit A/R

None of these answers are correct

Debit bad debt expense, credit allowance for uncollectable accounts

Debit sales revenue, credit bad debt expense

Debit bad debt expense, credit A/R

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On March 17, Acciscool, Inc. purchased inventory for $7,000 on account, terms 1/10 net 30.

Group of answer choices

No entry required

Debit A/P, credit inventory

None of the provided answers are correct

Debit accounts payable 7,000, credit cash 6,930 and inventory 70

Debit inventory, credit A/P

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On March 17, Acciscool, Inc. purchased inventory for $7,000 on account, terms 1/10 net 30.

What is the entry when Acciscool, Inc. paid the supplier for the purchase of inventory above on March 25.

Group of answer choices

Debit accounts payable 7,000, credit cash 6,930 and inventory 70

Debit A/P, credit cash

Debit cash, credit A/P

None of the provided answers are correct

Debit inventory, credit cash

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On Jun. 31, Acciscool, Inc. borrowed $13,000 in the form of a loan from the bank. The loan has an interest rate of 8% with principal and interest due to be repaid in three years.

Group of answer choices

No entry required

Debit cash 13,000, credit note payable 13,000

Debit cash 11,960 and interest expense 1,040, credit note payable 13,000

Debit interest expense 1,040, credit cash 1,040

Debit Note payable 11,960 and interest expense 1,040, credit cash 13,000

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As of December 31, there were $40,000 of employees' salaries that had not been paid for two weeks of work in December. What is the end of month adjusting entry?

Group of answer choices

No entry required

Debit salaries expense, credit salaries payable

Debit service revenue and salaries expense, credit salaries payable

Debit salaries expense, credit cash

Debit salaries payable, credit cash

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October 15, Acciscool sold products to Someother Co. for $4,000. The products, which cost $3,000, were shipped FOB shipping point. They arrived and were paid for on October 20.

1. What is the date for the journal entry recording the sale?
2. The payment date?

Group of answer choices

Both 15th

1. 15th and 2. 20th

1. 20th and 2. 15th

None of the provided answers are correct

Both 20th

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What is the adjusting entry on December 31 if Acciscool estimates that 10% of its $25,000 in accounts receivable will be uncollectable in the next year. The AfUA has a credit balance of $750?

Group of answer choices

Debit allowance for uncollectable accounts 3,250, credit A/R 3,250

Debit bad debt expense 3,250, credit allowance for uncollectable accounts 3,250

Debit allowance for uncollectable accounts 2,500, credit A/R 2,500

Debit bad debt expense 1,750, credit allowance for uncollectable accounts 1,750

Debit bad debt expense 2,500, credit allowance for uncollectable accounts 2,500

Debit allowance for uncollectable accounts 1,750, credit A/R 1,750

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On July 31, Acciscool, Inc. borrowed $13,000 in the form of a loan from the bank. The loan has an interest rate of 8% with principal and interest due to be repaid in three years.

What is the adjusting entry on December 31 if no adjustments have been made during the year?

Group of answer choices

Debit interest expense 520, credit interest payable 520

Debit note payable 520, credit cas 520

No entry required

Debt note payable13,000 and interest expense 1,040, credit cash 14,040

Debit interest expense 433.33, credit interest payable 433.33

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On Jan. 30, Acciscool, Inc. paid $12,000 for 1 year of rent in advance to Monopoly Guy Properties. What is the adjusting entry on December 31 if no adjustments have been made during the year?

Group of answer choices

Debit rent expense 12,000, credit prepaid rent 12,000

Debit prepaid rent 12,000, credit rent expense 12,000,

Debit rent expense 10,000, credit prepaid rent 10,000

None of the provided answers are correct

Debit rent expense 11,000, credit prepaid rent 11,000

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On Apr. 1, Acciscool received $12,000 in advance to provide one year of monthly services.

What is the adjusting entry on December 31 if no adjustments have been made during the year?

Group of answer choices

Debit deferred revenue 7,000, credit service revenue 7,000

Debit cash $7,000, credit service revenue $7,000

Debit deferred revenue 9,000, credit service revenue 9,000

Debit deferred revenue 12,000, credit cash 12,000

Debit A/P 12,000, credit service revenue 12,000