Question 28 Jefferson Services Company records the collection of $325 cash for previously accrued revenue and then makes an accrual of $500 for another revenue. The impact of these two entries on total net income and working capital is an increase of: Not yet answered Points out of 3.00 Flag question Select one: a. Net Income $325, Working Capital $825 b. Net Income $825, Working Capital $325 c. Net Income $325, Working Capital $500 d. Net Income $500, Working Capital $825 e. Net Income $500, Working Capital $500 Question 29 The accounts to be credited in the closing entries at year-end include: Not yet answered Points out of 3.00 Select one: a. Accumulated Depreciation, Purchases, Freight-In b. Freight-Out, Purchase Returns, Purchases Flag question c. Sales Returns, Purchase Discounts, Interest Revenue d. Sales Discounts, Depreciation Expense, Freight-Out e. Interest Revenue, Purchase Returns, Sales Question 30 The CQ Company uses the periodic method for inventory. All sales and purchases are on credit. How does CQ account for a return of merchandise to a vendor? Not yet answered Points out of 3.00 Select one: a. Debit Purchase Return, Credit Accounts Payable b. Debit Accounts Payable, Credit Purchases Receivable Flag question c. Debit Cost of Goods Sold, Credit Inventory d. Debit Accounts Payable, Credit Inventory e. Debit Accounts Payable, Credit Purchase Return