QUESTION 18 Entity H furnished plumbing services on credit to its customer. The entry to record this transaction will include: O a debit to Accounts Receivable O a debit to Cash O a credit to Unearned Service Revenue O a credit to Cash QUESTION 19 An accounting record that lists the accounts and their debit or credit balances at a point in time is: O a general journal O a flow chart O a trial balance O the chart of accounts QUESTION 20 Entity N's employees work a five-day workweek and the total weekly payroll (paid on Fridays) is $6,000. March 31, 2021 in on Wednesday. If the proper monthly adjusting entry is not made, O Net income will be overstated. O Net income will understated. O Net income will be correct because no cash has been paid to the employees O Current liabilities will be overstated. QUESTION 21 Entity K purchased a two year insurance policy on January 1 for $10,000 and recorded the purchase as an asset. On June 30. Entity K will make its first adjusting entry concerning this transaction. Which entry will it make? Dr. Insurance expense 2,500 Cr. Prepaid Insurance 2,500 Dr. Insurance expense 10,000 Cr. Cash 10,000 Dr. Prepaid Insurance 10,000 Cr. Cash 10,000 Dr. Prepaid Insurance 7,500 Cr. Insurance Expense 7,500