On Jan 1, 2019 the balnce of retained earnings $60,000, the net income (profit) of the year is $30,000 and dividends is $20,000, then the balance of retained earnings on Dec 31, 2019 is: Select one: a. 90,000 b. 70,0000 c. 110,000 d. none of the above On December 31, the Co. has accounts receivable balance $200,000. The Co. estimates that 5% of these receivables will prove uncollectible, the net balance of accounts receivable in balance sheet: Select one: a. 190,000 b. 210,000 c. 10,000 d. none of the above on Jan 1, 2019 the Company paid $60,000 prepaid insurance for three years, the adjusting entry to record the insurance expense on Dec. 31, 2019 is: Select one: a. Insurance expense debit 20,000 and prepaid insurance credit 20,000 b. none of the above c. prepaid insurance debit 20,000 and insurance expense credit 20,000 d. Insurance expense debit 60,000 and prepaid insurance credit 60,000 If the balance of salaries account on Dec. 31 is $80,000 and on Dec. 31 there is salaries payable $4,000, then the adjusting entry: Select one: a salaries expense debit 84,000 and salarios payable credit 84,000 b. none of the above c. salaries expense debit 4000 and salarios payable credit 4000 d. salaries payable debit 4000 and salaries expense credit 4000