Information P Flag question CASE STUDY 2: The Super power electricity company provides service during the period and bills its customers for the consumption which amounts to RO 50,000. The utility estimates that 8.5% of its billings will not be collected. During the year, the water utility acquired a new generator costing OMR 8000. The vouchers were approved and payment was settled after one week of purchase. Based on the above information answer the following questions 3 questions (Questions 42-44) Question 42 Not yet If the revenues are reported net of uncollectible, which among the following will be the correct journal entry to record revenue from electric utility services? answered Mariced out of 1.00 P Flag question a. Accounts receivable (Debit) 41,500 Allowances for uncollectible (Credit) utility sales revenue (Credit) 4250 37,250 O b. Accounts receivable (Debit) 45,750 Allowances for uncollectibles (Credit) Electric utility sales revenue (Credit) 4250 41,500 C. Accounts receivable (Debit) 50,000 Allowances for uncollectibles (Credit) Electric utility sales revenue (Credit) 4250 45,750 O Accounts receivable (Debit) 54,250 Allowances for uncollectibles (Credit) Electric utility sales revenue (Credit) 4250 50,000 Clear my choice The entry to record payment to vendor is: Question 43 Not yet answered Marked out of 1.00 P Flag question 8000 a. Vouchers payable (Debit) Expenses (Credit) 8000 8000 O b. Cash (Debit) Vouchers payable (Credit) 8000 8000 O Expenses (Debit) Vouchers payable (Credit) 8000 8000 di Vouchers payable (Debit) Cash (Credit) 8000 Clear my choice The journal entry passed at the time of acquisition of generator is: Question 44 Not yet answered Marked out of 1.00 Flag question O a. Equipment (Debit) Cash (Credit) 8000 8000 b. Equipment (Debit) Voucher payable (Credit) 8000 8000 8000 Expenditures (Debit) Cash (Credit) 8000 8000 O di Vouchers payable (Debit) Equipment (Credit) 8000 Clear my choice