-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+ Jasmine Restaurant signs a three-month note payable to help financing their expanding. The note is signed on October 1 in the amount of $80,000 with annual interest of 6%. What is the adjusting entry to be made on December 31 if no entries have been made previously for the interest?

Select one: a. Dr. Interest Expense 800 Cr. Interest Payable 800 b. Dr. Interest Expense 1,200 Cr. Interest Payable 1,200 c. Dr. Interest Expense 1,200 Cr. Cash d. Dr. Interest Expense 1,200 Cr. Notes Payable 1,200

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Adjusting entries are required: Select one: a. yearly. b. every time financial statements are prepared. c. quarterly. d. monthly.

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Before any year-end adjustments, Vatrina Company had the following accounts:

Prepaid Insurance $7,600 Insurance Expense $2,600

It was determined that $3,200 of the Prepaid Insurance had expired. What would be the insurance expense account after the adjustment? Select one: a. $2,600. b. $5,800. c. $4,400. d. $3,200.

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Nablus municipality starts its accounting year at April 1 and ends at March 31 that is one year in length, the accounting time period is referred to as Select one: a. a fiscal year. b. calendar year. c. an interim period. d. a reporting period.

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What is the proper adjusting entry at March 31, if the prepaid insurance account balance is $2,000 for 12 months, purchased at January1st?

Select one: a. Dr. Insurance Expense 750 Cr. Prepaid Insurance 750. b. Dr. Insurance Expense 2,000 Cr Prepaid Insurance 2,000. c. Dr. Insurance Expense 1,250 Cr Prepaid Insurance 1,250. d. Dr. Prepaid Insurance 1,250 Cr Insurance Expense 1,250.

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Please Solve As soon as Solve quickly I get you thumbs up directly Thank's Abdul-Rahim Taysir