Question 12 (1 point) Saved At the end of the year, a company had accounts payable of $35,000. During the year, the company bought inventory on credit of $135,000 and paid off accounts payable amounting to $110,000. At the beginning of the year, the accounts payable balance would have been: A) $10,000 B) $25,000 C) $270,000 D) $35,000 Question 21 (1 point) Saved Unearned revenue of $6,000 was related to cash received from the client Trudeau LLC in the prior year (2020). By the end of 2021, Alberta Limited has completed services for Trudeau LLC. What is the adjusting entry relating to this item on December 31, 2021? A) DR Cash $6,000; CR Accounts Receivable $6,000. B) DR Cash $6,000; CR Service Revenue $6,000. C) DR Unearned Revenue $6,000; CR Cash $6,000. D) DR Unearned Revenue $6,000; CR Service Revenue $6,000. Question 25 (1 point) Saved On January 1, a company borrowed $40,000 at 5% by obtaining a bank loan payable due on December 31 of the same year. The company records quarterly adjusting entries on March 31, June 30 and September 30. On December 31, the bank loan payable plus the outstanding interest was paid by the company. This is the first time that the company makes any cash payment with regard to this note. On December 31, the company would record: A) debit Bank Loan Payable $40,000; debit Interest Expense $500; credit Cash $42,000. B) debit Bank Loan Payable $40,000; debit Interest Expense $2000; credit Cash $42,000. C) debit Bank Loan Payable $40,000; debit Interest Expense $1,500; debit Interest Payable $500; credit Cash $42,000. D) debit Bank Loan Payable $40,000; debit Interest Expense $500; debit Interest Payable $1,500; credit Cash $42,000