On May 30, Cecil Company purchased merchandise on account from Ricci Company as follows - List Price: $50,000, Trade Discount 25%, Sales Terms: 2/10, n/30. The Journal Entries of Cecil Company will show which of the following for the May 30 Purchase?

a.	Debit Merchandise Inventory $ 50,000.00, Credit Accounts Payable $ 50,000.00
	b.	Debit Merchandise Inventory $ 50,000.00, Credit Cash $ 50,000.00
	c.	Debit Merchandise Inventory $49,000.00, Credit Accounts Payable $49,000.00
	d.	Debit Merchandise Inventory $36,750.00, Credit Accounts Payable $36,750.00

On August 1, Walpole Co. paid Abbot Co. $9,000 to perform computer installation services. On August 31, Abbot Co. had performed $5,000 of these services. The Financial Statements of Abbot Co. will show which of the following for these transactions on August 31?

.	$9,000 increase in Current Assets, no change in Current Liabilities, $9,000 increase in Net Income
	b.	$9,000 increase in Current Assets, $9,000 increase in Current Liabilities, no change in Net Income
	c.	$9,000 increase in Current Assets, $5,000 increase in Current Liabilities, $4,000 increase in Net Income
	d.	$9,000 increase in Current Assets, $4,000 increase in Current Liabilities, $5,000 increase in Net Income

On July 1, Abbot Co. performed $95,000 of programming services for Crockett Co. On July 28, Crockett Co. paid Abbot Co. $35,000 and agreed to pay the remainder on August 20. On July 31, the Financial Statements of Crockett Co. will show which of the following for these transactions?

	a.	$60,000 increase in Current Assets, no change in Current Liabilities, $60,000 increase in Net Income
	b.	$35,000 decrease in Current Assets; $60,000 increase in Current Liabilities; $95,000 decrease in Net Income
	c.	$95,000 increase in Current Assets; no change in Current Liabilities; $95,000 increase in Net Income
	d.	$35,000 increase in Current Assets; $95,000 increase in Current Liabilities; $60,000 decrease in Net Income