On December 31, Pearls declares a dividend payable to shareholders of record on January 20. The dividend will be paid February 1. Debit cash, credit dividends O No entry required O Debit dividends payable, credit cash Debit dividends, credit cash Debit Dividends, credit dividends payable What is the adjusting entry on December 31 if Pearls estimates that 10% of its $25,000 in accounts receivable will be uncollectable in the next year. The AfUA has a debit balance of $750? O Debit bad debt expense 2,500, credit allowance for uncollectable accounts 2,500 O Debit allowance for uncollectable accounts 1,750, credit A/R 1,750 Debit bad debt expense 3,250, credit allowance for uncollectable accounts 3,250 O Debit allowance for uncollectable accounts 3,250, credit A/R 3,250 Debit bad debt expense 1,750, credit allowance for uncollectable accounts 1,750 O Debit allowance for uncollectable accounts 2,500, credit A/R 2,500 What is the adjusting entry on December 31 if Pearls estimates that 10% of its $25,000 in accounts receivable will be uncollectable in the next year. The AfUA has a credit balance of $750? O Debit bad debt expense 1,750, credit allowance for uncollectable accounts 1,750 O Debit bad debt expense 2,500, credit allowance for uncollectable accounts 2,500 Debit allowance for uncollectable accounts 3,250, credit A/R 3,250 Debit bad debt expense 3,250, credit allowance for uncollectable accounts 3,250 O Debit allowance for uncollectable accounts 1,750, credit A/R 1,750 Debit allowance for uncollectable accounts 2,500, credit A/R 2,500 The bank reconciliation included a $100 NSF check and $50 in fees. Adjust the cash balance. No entry required because the bank must make the correction O Debit A/R and service fee expense, credit cash Debit NSF check and service fee expense, credit cash O Debit bad debt expense and service fee expense, credit cash Debit bank error, credit cash December's utility bill was $1,200. It will be paid on its January 15, 2020 due date. What is the adjusting entry on December 31? O Debit utilities expense, credit cash O Debit utilities expense, credit utilities payable Debit utilities expense 1000, credit cash 1000 None of the provided answers are correct Debit cash 780, credit utilities expense 780 Depreciation on company headquarters building was $7,000 for the year. What is the adjusting entry on December 31? O Debit depreciation expense, credit accumulated depreciation Debit buildings, credit depreciation O Debit amortization expense, credit depreciation O None of the provided answers are correct O Debit depreciation expense, credit buildings On July 31, Pearls, Inc. borrowed $13,000 in the form of a loan from the bank. The loan has an interest rate of 8% with principal and interest due to be repaid in three years. What is the adjusting entry on December 31? O Debit interest expense 433.33, credit interest payable 433.33 None of the provided answers are correct O Debit interest expense 520, credit interest payable 520 Debt note payable13,000 and interest expense 1,040, credit cash 14,040 Debit note payable 520, credit cas 520 Pearls, Inc. purchased machinery on February 1 for $25,000 in cash and a $75,000 note. The 1 year note has an interest rate of 5%. What is the adjusting entry on December 31? O No entry required Debit interest expense 3437.50, credit interest payable 3437.50 O Debit interest expense 3,750, credit interest payable 3,750 Debit interest expense 5,000, credit interest payable 5,000 Debit interest expense 3,125, credit interest payable 3,125
