part Matching 10 points) tements below refer to principles, assumptions, characteristics of constraints within od in this course in the following space provided, please write the corresponding letter of GAAP es to the transaction that is described. A letter can be used more than once. GAAP has bees y seara, adicate the ser v er in the space provided below. t e A Matching Principle Materiality c Industry Practice D. Time Period (Periodicity) Historical Cost F. Revue Recognition Separate Entity H. Conservatism 1. Johnny's Lawn Service cut my on Monday, November Since I was so home, he left the on my door. When he returned home that evening bemenetry on his books to record the receivable. 2. Payton, President of Puppies R' U ne decides to $2000 starting high school this year. She pay for this out of the company checking following journal entry: Debit: Equipment $2.000 and Credit: Cash $2,000. for her see who is and records the 3. Office Surplus Company, a paper and office supply distributor, produces financial statements each month. 4. Michael Scott Paper Company is being sued for $10,000, and his attomeys believe it is probable that Michael will lose this court case and have to pay the full $10,000. Although there has not been a verdict yet, Michael records the following journal entry: Debit: Litigation loss expense $10,000 and Credit: Litigation Payable $10,000 5. Barbour's Bike Shop purchases an external hard drive for their computer system, at a cost of $25. Barbour's Bike Shop decides to expense this item rather than record it as equipment (an asset), due to the small amount of the purchase. 6. Mel's Hot Dogs decides to purchase some new fryers and other kitchen equipment from a restaurant supplier that is going out of business. The list price for the equipment is $4,000, but Mel is able to purchase it on sale for $3,000. He records the transaction on his books as follows: Debit: Equipment $3,000 and Credit: Cash $3,000. 7. ESPN recognizes revenue for NFL programming evenly throughout the year rather than when an NFL game is aired, which is acceptable under GAAP for television programming. (DO NOT use revenue recognition) 8. Julianna's Flower Shop purchased its land and building on Columbus Avenue in 1975, for a cost of $50,000, although today it is estimated to be worth $7,500,000. She decides to show the increase of the fair market value in the building by recording the following entry: Debit: Building S7,450,000 and Credit: Gain on building appreciation: $7,450,000. of these scenarios, which ones were violations of GAAP