Mastering Adjusting Entries\ 11. You receive

$80,000

before you do work for a customer. The journal entry to record this transaction is . . .\ Cash\ Unearned Revenue\

80,000,80,000

\ To record cash received\ b. Cash\ Accounts Receivable\ 80,000\ To record cash received\ 80,000\ c. Cash\ Accounts Payable\ 80,000\ To record cash received\ 80,000\ d. Unearned Revenue\ 80,000\ Cash\ To record cash received\ 80,000\ 12. When are adjusting entries prepared?\ a. beginning of the accounting period\ 9. end of the accounting period\ c. middle of the accounting period\ d. time of the transaction\ 13. Your company holds a 90-day note receivable of

$10,000

from a customer. The note is dated October 31 and has a

12%

interest rate. Your company's year ends on December 31. How much interest revenue do you accrue on December 31 ?\ a.

$1,200

\ b.

$300

\

$200

\ d.

$0

11. You receive $80,000 before you do work for a customer. The journal entry to record this transaction is . . Cash Unearned Revenue 80,00080,000 To record cash received 80,000 b. Cash Accounts Receivable 80,000 To record cash received 80,000 c. Cash Accounts Payable To record cash received 80,00080,000 d. Unearned Revenue Cash 80,000 To record cash received 80,000 12. When are adjusting entries prepared? a. beginning of the accounting period 6. end of the accounting period c. middle of the accounting period d. time of the transaction 13. Your company holds a 90 -day note receivable of $10,000 from a customer. The note is dated October 31 and has a 12% interest rate. Your company's year ends on December 31. How much interest revenue do you accrue on December 31 ? a. $1,200 b. $300 $200 d. $0