Question 28 (1 point) On May 1, 2020. Bee Advertising Company received $2,500 from Julie Cee for advertising services to be completed by April 30, 2021. Assume the receipt was recorded as unearned revenue and that at December 31, 2020, $1,000 of the fees had been earned. The adjusting entry prepared by Bee on December 31, 2020, should include 1) A debit to Unearned Revenue for $500 2) A credit to Unearned Revenue for $500 3) A credit to Revenue for $1,000 4) A debit to Revenue for $1,000 5) A debit to Revenue for $500 Question 17 (1 point) Which of the following statements is incorrect? 1) An adjusted trial balance shows the account balances after they have been revised to reflect the effects of end-of-period adjustments. 2) Interim financial reports can be based on one-month or three month accounting periods. 3) The fiscal year is any 12 consecutive months used by a business as its annual accounting period. 4) Property, plant, and equipment are long term assets. 5) The cash basis of accounting is consistent with GAAP