QUESTION 1 Sigma Insurance Company collected from a customer a premium of $30,000 for a 1-year insurance policy on May 1. What amount should Sigma report as Unearned Service Revenue at December 31? $10,000 $20,000. $30,000 o so QUESTION 2 On January 1, 2019, Sigma Company, a calendar-year company, issued $2,000,000 of notes payable, of which $500,000 is due on January 1 for each of the next four years. The proper statement of financial position presentation on December 31, 2019, is Current Liabilities, $500,000; Non-current Liabilities, $1,500,000. Current Liabilities, $1,000,000; Non-current Liabilities, $1,000,000. Current Liabilities, $2,000,000 Non-current Liabilities $2,000,000. QUESTION 3 When an interest-bearing note matures, the balance in the Notes Payable account is equal to the total amount repaid by the borrower. the difference between the maturity value of the note and the face value of the note. less than the total amount repaid by the borrower. O greater than the total amount repaid by the borrower. QUESTION 4 Most companies pay current liabilities out of current assets. O by creating long-term liabilities. by issuing interest-bearing notes payable. 06 by issuing stock