Hadief Consultant purchased land worth RM80,000 by paying RM15,500 cash and signing a long-term note payable for the remaining money. The journal entry would be recorded as Debit (RM) Credit (RM) A. Land RM80,000 Cash RM15,500 Account Receivable RM64,500 B. Land RM80,000 Cash RM15,500 Notes Payable RM64,500 C. Land RM80,000 Cash RM15,500 Accounts Payable RM64,500 D. Land RM80,000 Cash RM15,500 Owner's Equity RM64,500 An advance rental of RM4,500 for 3 months was paid on 1 February 2020. If the accounting period ended on 31 March 2020, what should be the adjusting entry? Debit (RM) Credit (RM) A. Rent Expense RM1,500 Prepaid Rent RM1,500 B. Prepaid Rent RM3,000 Rent Expense RM3,000 C. Rent Expense RM3,000 Prepaid Rent RM3,000 D. Prepaid Rent RM4,500 Rent Expense RM4,500 B. Which of the followings is the adjusting entry to record an accrued revenue of RM500? Debit (RM) Credit (RM) A. Accounts Receivable RM500 Fees Earned RM500 Accounts Receivable RM500 Unearned Fees RM500 C. Accounts Payable RM500 Unearned Fees RM500 Accounts Payable RM500 Fees Earned RM500 D. Season Enterprise has a total monthly salary of RM45,000 that is normally paid on the fifth (5th) of the following month. What should be the entry to record the salary expense at the end of every month? Debit (RM) Credit (RM) A. Cash RM45,000 Salaries Expense RM45,000 B. Salaries Expense RM45,000 Salaries Payable RM45,000 C. Salaries Expense RM45,000 Cash RM45,000 D. Salaries Payable RM45,000 Cash RM45,000 Which of the following circumstances will cause an asset to be overstated if no adjusting entry is made when the accounting year ended on 31 March 2020? A. A rental deposit of RM900 for 3 months paid on 31 March 2020. B. A monthly utility bills for June paid on 31 March 2020. C. A six-month subscription fees of RM1,200 received on 1 October 2019. D. An annual building insurance for RM2,400 paid on 1 January 2020. The record for office supplies was not adjusted at the end of an accounting period. This will cause which of the followings? A. A liability is overstated; an expense is understated. B. An asset is overstated; an expense is understated. c. An asset is understated; a liability is understated. D. A liability is understated; an asset is overstated. A journal entry was wrongly debited to an asset account instead of the accumulated depreciation account. This will cause which of the followings? A. Total depreciation will be overstated. B. Total expenses will be understated. C. Total assets will be overstated. D. Total liabilities will be overstated