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QUESTION 9 The correct journal entry for transaction #13 is: Debit: Salary Expense $1,000; Credit: Salaries Payable $1,000 OA. Debit: Salaries Payable $1,000; Credit: Salary
QUESTION 9 The correct journal entry for transaction #13 is: Debit: Salary Expense $1,000; Credit: Salaries Payable $1,000 OA. Debit: Salaries Payable $1,000; Credit: Salary Expense $1,000 B. Debit: Prepaid Salaries $12,000; Credit: Cash $12,000 Debit: Salaries Expense $1,000; Credit: Cash $1,000 D. No entry is required OE. QUESTION 10 Transaction #11 includes a: Debit to Unearned Revenue for $200 A. Debit to Cash for $200 B. Credit to Service Revenue for $200 OC. Credit to Sales Revenue for $120 Debit to Inventory - Books and Gifts for $80 OE. #11 Feb 11: Gift certificates totaling $200 were redeemed for gift merchandise. The cost of the merchandise was $80. #12 Feb. 12: Purchased 150 new paperback books for resale for $9 each. The company paid cash for this purchase. #13 Feb 14: The Bookstore signed a contract to hire a new employee. The terms included salary payments of $12,000 per year
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