Question
part1 Baylor Service Corp. redeemed $1,000 of gift cards that customers used to pay for services that were performed by the company. The related adjusting
part1 Baylor Service Corp. redeemed $1,000 of gift cards that customers used to pay for services that were performed by the company. The related adjusting entry would include a debit to:
a. Cash and a credit to Service Revenue.
b. Cash and a credit to Unearned Revenue.
c. Unearned Revenue and a credit to Service Revenue.
d. Accounts Receivable and a credit to Service Revenue.
part 2 The asset account Office Supplies has a balance of $815 at the beginning of the year. The amount on hand at the end of the year is $530. The company has calculated the Supplies Expense for the year to be $3,800. Based on this information, what amount of office supplies was purchased during the year? |
a. $0
b. $3,515
c. $3,270
d. $4,330
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