New York Times newspapers sold 10,000 of annual subscriptions at $150 each on June 1. How much unearned revenue will exist as of December 31? a. $0. b. $312, 500. c, $437, 500. d. $750,000. Grand Store made cash sales during the month of October of $375,000. The sales are subject to a 6% sales tax that was also collected. Which of the following would be included in the summary journal entry to reflect the sale transactions? a. Debit Accounts Receivable for $400,000. b, Credit Sales Taxes Payable for $41, 226. c. Credit Sales Revenue for $447, 483. d. Credit Sales Taxes Payable for $46,000. On February 10, 2018, after issuance of its financial statements for 2017. Fallas Company entered into a financing agreement with Western Bank, allowing Fallas Company to borrow up to $10,000,000 at any time through 2020. Amounts borrowed under the agreement bear interest at 2% above the bank's prime interest rate and mature two years from the date of loan. Fallas Company presently has $5,000,000 of notes payable with New Jersey National Bank maturing March 15 2018. The company intends borrow $6,000,000 under the agreement with Western and liquidate the notes payable to New Jersey National Bank. The agreement with Western also requires Fallas to maintain a working capital level of $15,000,000 and prohibits the payment of dividends on common stock without prior approval by Western Bank. From the above information only, the total short-term debt of Fallas Company as of the December 31, 2017 balance sheet date is a. $0. b. $5,000,000. c, $6,000,000. d, $10,000,000. Pueblo Co. is a retail store operating in a state with a 11% retail sales tax. The retailer may keep 2% of the sales tax collected. Pueblo Co. records the sales tax in the Sales Revenue account. The amount recorded in the Sales Revenue account during May was $835, 435. The amount of sales taxes payable (to the nearest dollar) to the state for the month of May is a. $82, 791. b. $81, 135 c. $68, 981. d. $67, 601. Zachary Corporation has $3,000,000 of short-term debt it expects to retire with proceeds from the sale of 85,000 shares of common stock. If the stock is sold for $25 per share subsequent to the balance sheet date, but before the balance sheet is issued, what amount of short-term debt could be excluded from current liabilities? a. $2, 125,000 b. $3,000,000 c. $875,000 d. $0 Wilmington Co., which has a taxable payroll of $1, 200,000, is subjected to FUTA tax of 6.2% and a state contribution rate of 5.4%. However, because of stable employment experience, the company's state rate has been reduced to 2%.What is the total amount of federal and state unemployment tax for Wilmington Co.? a. $84,000 b. $98, 400 c. $348,000 d. $246,000