Question 30 2 pts Indicate the appropriate columns in which the following transaction would be recorded in the cash receipts journal: Cash collected on account from a customer. a. Cash DR Accounts Receivable CR b. Cash DR Sales CR c. Cash DR Other Account CR d. Accounts Receivable DR Cash CR Question 31 2 pts A baseball team records ticket revenue received in advance as Unearned Revenue. On the team's work sheet, the required adjusting entry is a. debit Cash; credit Unearned Revenue. b. debit Revenue; credit Unearned Revenue. c. debit Unearned Revenue; credit Cash. d. debit Unearned Revenue; credit Revenue e. debit Cash; credit Unearned Revenue Income The inventory system that makes an adjustment to the Merchandise Inventory account only when an actual physical inventory is taken O a. Physical Inventory Method O b. Periodic Inventory System c. Perpetual Inventory System d. Count of Stock Method Question 33 2 pts The inventory system where a business continually maintains a cost record of each item in stock a. Periodic Inventory System b. Perpetual Inventory System c. Inventory Cost Control System d. None of the above Question 34 2 pts Assuming Net Sales is $180,000, Cost of Goods Sold is $79,000, Selling Expenses are $28,500, General Expenses are $22,800, and Interest Expense is $2,000, then Income from Operations is a. $27.700. b. $49.700. c. $101.000. d. $95.300. e. $72.500. 2 pts Question 35 Examples of current assets are a. supplies capable of being used up within twelve months. b. merchandise inventories convertible into cash within twelve months or less. C. receivables convertible into cash within twelve months or less d. all of the above. e none of these