ser vicans performped? A) Unearned Revenue C) Accounts Recelvable sen B) Prepuid Expense 19) Nome, thein is nwo entry in Decmainhes. 41) The following Otfice Supplies arrousu Vne. in is available for Alle Company: 41) From the above information, calculate the amount of office supplies purchased. A) $3,000 B) 51,200 C) $7,800 D) 5,000 42) For accounting purposes, depreciation refers to the A) method of allocating the cost of a plant asset to expense it over its useful wife B) method of estimating an asset's current market value C) process of selling a used asset D) method of declining the market value of an asset to its book value 43) Qwerty Company prepaid $8,400 on November 1, 2014 for a one-year insurance premium. On January 1, 2015 of the next year (after December 31 adjustments), the Prepaid Insurance account will have a debit balance of (Round any intermediate calculations to two decimal places, and your final answer to the nearest whole number.) C) $7,700 D) 99,100 A) $8,400 B) 57,000 43) 44) A business purchased equipment for $120,000 on January 1, 2017 . The equipment will be depreciated over the five years of its estimated useful life using the straight-line depreciation method. The business records depreciation once a year on December 31. Which of the following is the adjusting entry required to record depreciation on equipment for the year 2017? (Assume the residual value of the acquired equipment to be zero.) A) Debit $24,000 to Depreciation Expense, and credit $24,000 to Equipment. B) Debit $24,000 to Depreciation Expense-Equipment, and credit $120,000 to Accumulated Depreciation-Equipment. C) Debit $120,000 to Equipment, and credit $120,000 to Cash. D) Debit $120,000 to Bquipmepreciation Expense-Equipment, and credit $24,000 to Accumulated