SPECIAL JOURNALS: In which journal is the cash purchase of merchandise inventory recorded?

		A. Cash Receipts
		B. General
		C. Purchases
		D. Sales
		E. None of the above

INVENTORY METHODS: Co. E has the following units of beginning inventory and purchases for the year: beginning inventory 300 units at $40 each and a 2/28 Purchase 300 units at $50 each. Using the LIFO method, if the ending inventory is 200 units, what is the cost of the ending inventory?

		A. 10,000
		B. 8,000
		C. 6,000
		D. 4,000
		E. None of the above

JOURNAL ENTRIES: Company X currently has a balance in Allowance for Bad Debts of $5,000. Company X's aging schedule indicates that the balance in the Allowance for Bad Debts should be $9,000. What is the adjusting journal entry to increase the balance in the Allowance for Bad Debts to $9,000?

		A. Dr. Bad Debts Expense 9,000; Cr. Allowance for Bad Debts 9,000
		B. Dr. Allowance for Bad Debts 9,000; Cr. Bad Debts Expense 9,000
		C. Dr. Allowance for Bad Debts 4,000 Cr. Bad Debts Expense 4000
		D. Dr. Bad Debts Expense 4,000; Cr. Allowance for Bad Debts 4,000
		E. None of the above