Question 10 Not yet saved Purchased a machinery for $100 000. 50% of the amount is paid by cash, the remaining will be paid in the future. The journal entry to record the transaction is: Marked out of 1.00 a. debit, machinery $50 000 and credit, cash $50 000. P Flag question b. debit, machinery $100 000 and credit, cash $100 000. C. debit, machinery $100 000 and credit, accounts payable $100 000. d. debit, machinery $100 000 and credit, cash $50 000, credit, accounts payable $50 000. Question 11 Not yet saved Received a cash advance of $3500 from a client for the tax consultancy services to be performed in the next three months. The journal entry to record the transaction is: Marked out of 1.00 P Flag question a. debit, service revenue received in advance $3500 and credit, cash $3500. b. debit, cash $3500 and credit, service revenue received in advance $3500. C. debit, service revenue received in advance $3500 and credit, service revenue $3500. d. debit, service revenue $3500 and credit, cash $3500. Question 12 Paid cash $2000 for a 1-year insurance policy. The journal entry to record the transaction is: Not yet saved Marked out of 1.00 P Flag question a. debit, prepaid insurance $2000 and credit, cash $2000. b. debit, insurance expense $2000 and credit, cash $2000. C. debit, cash $2000 and credit, prepaid insurance $2000. d. debit, insurance expense $2000 and credit, prepaid insurance $2000