Short multiple choice exercises

A ili Normal No Spacing Heading 1 Heading 2 Talo 1.An employer agrees to pay $15,300 for medical insurance and contribute an additional 5% of the employees' $153,000 gross salaries to a retirement program. The entry to record these accrued benefits is: a. Credit to Employee Benefits Expense $15,300. b. Debit to Payroll Taxes Expense $22,950. Debit to Medical Insurance Payable $15,300. d. Debit to Employee Retirement Program Payable $7,650. e. Debit to Employee Benefits Expense $22,950. C. a. 2.On November 1, Alan Company signed a 120-day, 11% note payable, with a face value of $14,400. What is the adjusting entry for the accrued interest at December 31 on the note? (Use 360 days a year.) No adjusting entry is required. b. Debit Interest Payable, $352; credit Interest Expense, $352. Debit Interest Expense, $176; credit Interest Payable, $176. d. Debit Interest Expense, $264; credit Interest Payable, $264. e. Debit Interest Payable, $528; credit Interest Expense, S528. C. 3.During December, Vixen Company sells $853,000 in merchandise that has a one-year warranty, Warranty expense is estimated at 3% of sales. On January 5 of the following year, the merchandise requires repairs that are completed the same day. The repairs cost $14,300 for materials taken from parts inventory. The entry to record the estimated warranty liability at the end of December is: a. Debit Warranty Expense $11,290; credit Estimated Warranty Liability $11,290. b. Debit Warranty Expense $14,300; credit Estimated Warranty Liability S14,300. Debit Warranty Expense $25,590; credit Estimated Warranty Liability $25,590, d. Debit Estimated Warranty Liability $14,300; credit Warranty Expense $14,300. Debit Estimated Warranty Liability $11,290; credit Warranty Expense $11,290. C. e