Question 26 0.34 / 0.34 pts Nick Co. is a firm that provides legal services. On September 15, a client pays $2,000 upfront To Nick Co. for legal services to be performed over the next month. Nick Co. will start providing legal services immediately. What is the journal entry on September 15? Dr. Unearned Revenue 2,000 Cr. Cash 2,000 O Dr. Accounts Receivable 2,000 Cr. Cash 2,000 Dr. Cash 2,000 Cr. Unearned Revenue 2,000 O Dr. Cash 2,000 Cr. Service Revenue 2,000 O Dr. Service Revenue 2,000 Cr. Unearned Revenue 2,000 0/0.34 pts Question 27 A corporation issues 5,000 shares of its $6 par value, 10%, cumulative preferred stock on November 20 for $45 per share. Calculate the increase to Paid-In Capital in Excess of Par on the issue date. 19500 # of shares x s/p = increase to cash # of shares x par = increase to PS (just like with common shares) difference between cash received and increase to PS = increase to paid in capital in excess of par