On January 1, John Smith Company accepted a 6-month note for $18,000 at 11% from one of its customers. When the note matured on June 30, the customer was unable to pay, and the company treated it as a dishonored note. The journal entry would be: 18,990 18,000 990 18,990 18,990 O A. Accounts Receivable Notes Receivable Interest Revenue OB. Accounts Receivable Notes Receivable O C. Bad Debts Expense Notes Receivable Interest Revenue OD. Cash Notes Receivable Interest Revenue 18,990 18,000 990 18,990 18,000 990 Taylor Company has a $4,000 credit balance in the Income Summary account after closing revenues and expenses. What would be the closing entry for the Income Summary account? 4,000 4,000 4,000 4,000 O A. Taylor, Withdrawals Income Summary OB. Income Summary Taylor, Capital OC. Taylor, Capital Income Summary D. Income Summary Taylor, Withdrawals 4,000 4,000 4,000 4,000 o Basic Design has a $54,000 balance in the Owner, Withdrawals account at the end of the period. What would be the closing entry for the Owner, Withdrawals account? 54,000 54,000 54,000 54,000 O A. Income Summary Owner, Capital OB. Owner, Capital Owner, Withdrawals OC. Owner, Withdrawals Owner, Capital OD. Income Summary Owner, Withdrawals 54,000 54,000 54,000 54,000