Question 19 4.75 pts Hair Product Services Corp. bought supplies in the amount of $1,500 on 11/28. What account is debited and what account is credited in the journal entry required on 11/28? (Select ALL that apply) Credit Cash Debit Cash Credit Supplies Expense Credit Supplies Debit Supplies Credit Accounts Payable Debit Supplies Expense Debit Accounts Payable Debit Accounts Receivable Credit Accounts Receivable Question 20 4.75 pts On 1/1, UCF's Bicycle Vending Machine Company purchased on account items costings $1,000 that will be stocked in their vending machines to sell to customers. What journal entry required on 1/1? Debit supplies and credit accounts payable for $1,000 Debit inventory and credit cash for $1,000 Debit inventory and credit accounts payable for $1,000 Debit inventory and credit accounts receivable for $1,000 Debit supplies and credit accounts receivable for $1,000 Debit supplies and credit cash for $1,000 D Question 21 4.75 pts Jeff's Construction Services paid employee salaries in the amount of $2,500 on 12/15. What D Question 21 4.75 pts Jeff's Construction Services paid employee salaries in the amount of $2,500 on 12/15. What account is debited and what account is credited in the journal entry required on 12/15? (Select ALL that apply) Credit Accounts Payable Debit Accounts Payable Credit Accounts Receivable Debit Accounts Receivable Credit Cash Debit Cash Debit Salary Expense Credit Salary Payable Credit Salary Expense Debit Salary Payable Question 22 4.75 pts What account balance is transferred from the Statement of Stockholders' Equity to the Balance Sheet as the financial statements are prepared at the end of the accounting cycle? Accumulated Depreciation. Total Expenses. Net income Retained Earnings Ending Balan Question 23 4.75 pts If The Gym paid for 8 months of advance rent on 7/1 for $4.800 ($600 per month). What account is debited and what account is credited in the journal entry required on 7/1? (Select ALL that apply) Credit Prepaid Rent for $4,800 Debit Accounts Payable for $600 Question 23 4.75 pts If The Gym paid for 8 months of advance rent on 7/1 for $4,800 ($600 per month). What account is debited and what account is credited in the journal entry required on 7/1? (Select ALL that apply) Credit Prepaid Rent for $4,800 Debit Accounts Payable for $600 Credit Cash for $4,800 Debit Prepaid Rent for $4,800 Debit Rent Expense for $4,800 Debit Cash for $4,800 Credit Accounts Receivable for $4,800 Credit Rent Expense for $600 Debit Accounts Receivable $4.800 Credit Accounts Payable for $4,800 D Question 24 4.75 pts Question 24 4.75 pts On 6/26 Knights, Inc. sold $1,500 in services to SGA on account. What should Knights, Inc. record on 6/26 (Select ALL that apply)? Debit Deferred Revenue Debit Cash Debit Accounts Receivable Credit Cash Credit Accounts Receivable Credit Deferred Revenue Debit Service Revenue Credit Accounts Payable Debit Accounts Payable Credit Service Revenue Question 25 4.75 pts
