QUESTION 7 As of year end, your firm had completed $4,000 of work for a client, but had receved only $1,500 in payment. The only thing you have recorded is a credit to the Revenue account for the $1,500 received. If your firm uses the cash basis, by what amount must the balance in the Revenue account be adjusted at year end? $4,000 $2.500 $1,500 QUESTION9 Your company has a 5-day workweok (Monday-Friday) and a weekly payroll f $35,000 This year, December 31 ends on a Thursday if your uses the accrual basis, which of the following entries will you record on December 31? O no entry is necessary O debilt Salary Payable for $7,000, credit Salary Expense for $7,000 O debit Salary Expense for $28,000 cledit Cash for $28000 O debit Salary Expense for $28.000, credit Salary Payable for $28.000 debilt Salary Payable for $28,000; credit Salary Expense for $28.000 debit Salary Expense for $7,000, credit Salary Payable for $7,000