Notification by the bank that a customer's deposited cheque was returned NSF requires that the depositor make the following adjusting entry:

1)	Dr. Accounts Receivable; Cr. Cash

2)	Dr. Bank Charges Expense; Cr. Accounts Receivable

3)	Dr. NSF Expense; Cr. Cash

4)	Dr. Cash; Cr. Accounts Receivable

On December 1, 2019, Ali Co. receives $1,800 in advance for an agreement to brew beer during the months of December, January, and February. On December 31, 2019, Ali Co.:

1)	would have recognized $600 revenue under accrual accounting, and would have recognized $1,800 revenue under cash-basis accounting

2)	would have recognized $600 unearned revenue under accrual accounting, and would have recognized 1,800 cash under cash-basis accounting

3)	would have a $0 liability to its client under accrual accounting, and would have a $1,200 liability to its client under cash-basis accounting

4)	would have a $1,200 liability to its client under accrual accounting, and would have a $1,800 liability to its client under cash-basis accounting

Laura Co. purchased an asset on January 1, 2019. Laura chose the accelerated depreciation method to depreciate the asset. Had Laura chosen a straight-line method, which of the following would be true?

1)	The carrying value of the asset would be greater at the end of 2019.

2)	Net income would be less in 2019.

3)	Depreciation expense would be greater in 2019.

4)	All responses are correct.