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19. When a company sells land for cash and recognizes a $25,000 gain: A. Its acid-test ratio decreases B. Its current ratio decreases. C. Its debt to equity ratio decreases. D. Cannot determine from the given information. 20. Mama's Pizza Shoppe borrowed $8,000 at 9% interest on May 1, 2011, with principal and interest due on October 31, 2012. The company's fiscal year ends June 30, 2011. What adjusting entry would the company record on June 30, 2011? a No entry b Interest expense 240 120 120 240 Inlerest payable Inlerest payable Interest payable c Inlerest expense 120 d Prepaid interest 120 C. Option C. D. Option D. A. Option A. B. Option B