Merlot Company paid $9,000 in advance for a two-year business insurance policy. What journal entry should be made to record this transaction? Multiple Choice Account Debit Credit Prepaid Insurance 9,000 Cash Account Cash Prepaid Insurance Account Debit Credit 9,000 9,000 Debit Credit 9,000 A company reports the following amounts for the year ended December 31, 2021: Advertising Expense $ 14,200 Service Revenue $ 128,000 Building $ 100,000 Interest Expense $ 2,500 Salaries Expense 24,800 Utilities Expense $ 14,500 Accounts Payable $ 6,300 Equipment $ 25,700 Cash $ 12,400 Notes Payable $ 20,000 Help Save & Exit Subm In addition, the company had common stock of $30,000 at the beginning of the year and issued an additional $5,000 of common stock during the year. The company had retained earnings of $13,300 at the beginning of the year and paid dividends of $8,500. What amount of Retained Earnings should the company report in its December 31, 2021 balance sheet? Multiple Choice $48,300 Pullman Clinic provided medical services worth $800 to a customer on account. Because the customer was over the age of 65. the company gave the customer a 20% trade discount. What journal entry should the clinic make to record the transaction? Multiple Choice Account Accounts Receivable Service Revenue Account Accounts Receivable Service Revenue Account Debit Credit 640 640 Debit Credit 800 800 Debit Credit saved Help Save & Exit Submit On December 1, 2021 Eagle Company accepted a three-month, 10% note for $10,000 from one of its customers, Tony Smith, to settle a past due account receivable. What journal entry should Eagle Company make to record its acceptance of the note on December 1, 2021? Multiple Choice O Account Notes Receivable Accounts Receivable Debit Credit 10,000 10,000 Account Debit Credit Accounts Receivable 10,000 Notes Receivable 9,000 Interest Revenue 1,000 A landscaping company performs services and accepts, from one of its customers, Visa credit card as payment for $3,000 worth of landscaping services. The company is charged a service fee of 2% by the credit card company. What journal entry should the landscaping company make to record its credit card sales? Multiple Choice Account Cash Service Revenue Debit Credit 2,940 2,940 Account Debit Credit Accounts Receivable 3,000 Service Revenue 3,000