Que 34 The entry to record the purchase of equipment on account would include: Not yet answered Select one: Points out of 25 Flag question a. Debit to Assets & Credit to Liabilities b. Debit to Liabilities & Credit to Assets c. Debit to Assets & Credit to Assets d. Debit to Owners' Equity & Credit to Liabilities e. Debit to Owners' Equity & Credit to Asset Question 35 Not yet answered Points out of 25 Flag question Taylor's bookkeeper records three items: $5,000 of unearned revenue being earned $1,000 cash collected from earnings recorded in the prior period $3,000 cash collected in advance of services What is the change in liabilities for the current period? Select one: a. $8,000 b. $5,000 c. $2,000 d. $1,000 e. $3,000 Question 36 Not yet answered Points out of 25 Flag question Failure to record the adjustment to recognize the used portion of prepaid expenses: Select one a. Understates Liabilities b. Understates Revenue c. Overstates Expenses O d. Understates Assets estion 37 tyet wered nts out of 2.5 Flag question The following items appeared on the January 31 bank reconciliations for Gower Company: Bank Service Charge: 58 NSF Check: 580 Outstanding Checks: $30 Deposit in Transit: $40 Error: Deposit by Gower for $404 was correctly recorded by Gower, but recorded for $368 by the bank. Bank collection of Note Receivable for Gower: $170 The unadjusted balance per the January 31 books is $1,000. The adjusted cash balance for the January 31 balance sheet is: Select one: a $1,082 b. $1,014 OC. $1,092 O d. $1,118 e. $944