Question 19 3 pts Which of the following would most likely result in a positive reconciling item when reconciling from the company cash ledger balance to the reconciled balance? EFT for Utilities Interest paid on a Note Payable Outstanding Checks Interest earned on Account Balance Question 20 3 pts In a period of decreasing costs, which of the following inventory cost flow assumptions results in the highest Cost of Goods Sold (COGS)? Not enough information to determine Weighted Average Cost First-in-first-out (FIFO) Last-in-last-out (LIFO) Rook Pro On April 1, 2020 Barriemore, Inc. borrowed $280,000 from Nebraska Bank on a 10 month, 5% note, with all principal and interest due at maturity, Nebraska Bank makes adjusting journal entries monthly What adjusting journal entry would Nebraska Bank make on April 30, 2020? No entry because it will not have collected any cash DR: Interest Receivable $1,400 CR: Interest. Revenue $1.400 DR: Interest Receivable 51,167 CR: Interest Revenue $1,167 DR: Interest Expense $1.400 CR: Cash $1,400 3 pts Question 18 Which the following methods may a company not use for financial reporting under US GAAP to account for its uncollectible Accounts Receivable and related Bad Debt Expense? Percentage of Credit Sales Method Allowance for Uncollectible Accounts Method Direct Write-off Method Aging of Accounts Receivable Method MacBook Pro Question 16 On April 1, 2020 Barriemore, Inc. borrowed $280,000 from Nebraska Bank on a 10-month, 5% note, with all principal and interest due at maturity. Barriemore, Inc. makes adjusting journal entries only at year-end on December 31st. What adjusting journal entry would Barriemore, Inc. make on December 31, 2020? DR: Interest Expense $10,500 CR: Accrued Interest Payable $10,500 DR: Accrued Interest payable $14,000 CR: Cash $14.000 O DR: Interest Expense $10,500 CR: Cash $10,500 O DR: Interest Expense $12,600 CR: Accrued Interest payable $12,600 Question 15 Given the information in the table below, what is the company's earnings before taxes (EBT)? Sales revenue $380,000 Accounts receivable $290,000 Ending inventory $250,000 Selling and Admin Expenses $130,000 Cost of goods sold $180,000 Sales returns $45,000 Sales discount $20,000 $70,000 $135,000 $5,000 $325,000