Steamboat Consulting began 20X1 with Accounts Receivable and Cash balances of $153 and $255, respectively. During the year, Steamboat received $640 from its customers in payment on their accounts. The balance in Accounts Receivable on 12/31/X1 was $333. Steamboat did not perform any services for immediate cash and the company did not writeoff (throw-away) any receivables during the year. If Steamboat's expenses were $310 in 20X1, what amount of not income does Steamboat report for 20X1? O $177 O $487 $510. O $820 None of the above. D Question 55 5 pts On April 1, 20X1, Powder Insurance sold a one-year insurance policy covering the year ended March 31, 20X2. Powder collected the full $720 on April 1, 20X1. Powder recorded the cash collection as unearned revenue on April 1, 20X1. Powder prepares annual financial statements. What adjusting entry should Powder make on December 31, 20X1? debit Unearned Revenue 180, credit Revenue 180, O debit Revenue 180, credit Unearned Revenue 180. O debit Unearned Revenue 540, credit Revenue 540 O debit Revenue 540, credit Unearned Revenue 540. O None of the above