Question 11 5 pts Aqua Flo Supply sells high-end water pumps that are shipped with returnable plastic pallets. When a pallet is not returned and a deposit is forfeited, Aqua Flo will experience: An increase in accounts receivable. An increase in revenue. An increase in current liabilities. A decrease in cost of goods sold. Question 12 5 pts Dublin Irish Hardware Company uses a perpetual inventory system. How should Dublin record the sale of merchandise Question 5 2 pts A gain on the disposal of an asset indicates that the asset was sold for more than its fair value. True False Question 6 5 pts McDonald's Aircraft purchased a four-passenger airplane for $980,000, paying with a noninterest-bearing note payable in three years. The PV of the note is $745,000. The journal entry to record this purchase would include a: Credit to note payable for $745,000. Debit to Airplane (PP&E) for $980,000. Debit to Discount on Note Payable of $235,000 Credit to cash for $980,000. 5 pts Question 7