Gideon Company uses the allowance method of accounting for uncollectible accounts. On May 3, the Gideon Company wrote off the $2.700 uncollectib Gideon makes to record the write off of the account on May 3 is: Multiple Choice Allowance for Doubtful Accounts Bad debts expense 2,700 Accounts Receivable-A. Hopkins Allowance for Doubtful Accounts 2 .700 2.700 2,700 2,700 Accounts Receivable-A Hopkins Bad debts expenses Cash Accounts Receivable. Hopkins 2,700 Allowance for Doubtful Accounts Accounts Receivable-A. Hopkins 22 High Step Shoes had annual revenues of $197.000, expenses of $109,700, and dividends of $22.800 during the current year. The retained earnings accoun the Income Summary account at the end of the year, after revenue and expense accounts have been closed, is: Multiple Choice 0 Debit Income Summary $64,500 credit Retained earings $64,500 0 Debit Income Summary $87300, credit Retained earnings $87300 0 Debt Retained earnings $309,000; credit Income Summary $309.000 0 Debt Retained earnings $64,500, credit Income Summary $64,500 0 Debt Retained earnings 587,300, credit Income Summary $87,300 5109,700, and dividends of $22,800 during the current year. The retained earnings account before closing had a balance of $309.000. The entry to close e and expense accounts have been closed, is: gs $64,500 gs $87,300 mary $309.000 mary $64,500 Fary $87,300 w firm billed a client $1,800 for work performed in the current month. Which of the following general journal entries will the firm make to record this transactic Multiple Choice 0 Debit Legal Fees Revenue, 51,800, credit Accounts Receivable, $1.800 0 Debt Accounts Receivable. S1800, credit Legal Fees Revenue, $1,800 0 Debit Cash, S1800, credit Accounts Receivable, $1800 0 Debit Accounts Receivable, $1800. credit Uneared Legal Fees Revenue S1800 0 O Debit Cash $1800, credit Unearned Legal Fees Revenue. $1800 The interest accrued on $7,500 at 6% for 90 days is: (Use 360 days a year.) Multiple Choice S450.00. 63750 S180000. S1250. S125. Gideon Company uses the allowance method of accounting for uncollectible accounts. On May 3, the Gideon Company wrote off the $2.700 uncollectib Gideon makes to record the write off of the account on May 3 is: Multiple Choice Allowance for Doubtful Accounts Bad debts expense 2,700 Accounts Receivable-A. Hopkins Allowance for Doubtful Accounts 2 .700 2.700 2,700 2,700 Accounts Receivable-A Hopkins Bad debts expenses Cash Accounts Receivable. Hopkins 2,700 Allowance for Doubtful Accounts Accounts Receivable-A. Hopkins 22 High Step Shoes had annual revenues of $197.000, expenses of $109,700, and dividends of $22.800 during the current year. The retained earnings accoun the Income Summary account at the end of the year, after revenue and expense accounts have been closed, is: Multiple Choice 0 Debit Income Summary $64,500 credit Retained earings $64,500 0 Debit Income Summary $87300, credit Retained earnings $87300 0 Debt Retained earnings $309,000; credit Income Summary $309.000 0 Debt Retained earnings $64,500, credit Income Summary $64,500 0 Debt Retained earnings 587,300, credit Income Summary $87,300 5109,700, and dividends of $22,800 during the current year. The retained earnings account before closing had a balance of $309.000. The entry to close e and expense accounts have been closed, is: gs $64,500 gs $87,300 mary $309.000 mary $64,500 Fary $87,300 w firm billed a client $1,800 for work performed in the current month. Which of the following general journal entries will the firm make to record this transactic Multiple Choice 0 Debit Legal Fees Revenue, 51,800, credit Accounts Receivable, $1.800 0 Debt Accounts Receivable. S1800, credit Legal Fees Revenue, $1,800 0 Debit Cash, S1800, credit Accounts Receivable, $1800 0 Debit Accounts Receivable, $1800. credit Uneared Legal Fees Revenue S1800 0 O Debit Cash $1800, credit Unearned Legal Fees Revenue. $1800 The interest accrued on $7,500 at 6% for 90 days is: (Use 360 days a year.) Multiple Choice S450.00. 63750 S180000. S1250. S125
