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nation . Timele 0:00:10 TO 101 Use the following information to answer the next three multiple choice questions On May 15, 2021 Purpkin Company received $11,000 for services to be performed in the future. On December 31. it was determined that only $5.300 of the service revenue had actually been earned 1510 232025 25 e 32 Questo 31 How would the financial statements of Pumpkin Company be affected after the May 150 transaction is recorded in the accounting system? Prishtero ad a. Increase cash OD. Increase boties Ocincrease sales revenue d. Both A and is Bath A and Questo 32 What is the adusting ournal entry needed at December 31 100 The a No adjusting entry would be needed at December 31 b. Debit Unearned Revenue Credit Accounts Receivable ce Debit Sales Revenue/Credit Accounts Receivable Od Debit Unearned levenue/Credit Sales Revenue od Debit Unearned Revenue/ Credit Sales Revenue Oe. Debit Sales Revenue/ Credit Unearned Revenue on 33 The total amount on the adjusting journal entry recorded on the December 313 financial statements would be: ered a $5,700 b. 55.300 od out Oc$4,300 lag d. $11.000 Next page Previous page