$.$When a company received $$2,000$ of refundable deposit from customers, the company should

record:

A$)$ a credit to revenue of$$2\mathrm{.}000.$

B$)$ a debit to deferred revenue of $$2,000.$

C$)$a debit to liability of$$2\mathrm{.}000.$

D$)$a credit to liability of$$2\mathrm{.}000$

Hoosier company filed a lawsuit against a customer for contracts rejected in $2023.$ The$6.$lawsuit is in final appeal and attorney advises that it is virtually certain that Hoosier will beawarded $$2$ million. Hoosier should:

A$)$ record $$2$ million of gain in $2023$ financial statement under U$.$S$.$ GAAP

B$)$ record $$2$ million of loss in $2023$ fnancial statement under U$.$S$.$GAAPC$)$record $$2$ million of gain in $2023$ financial statement under IFRS.D$)$record $$2$ million of loss in $2023$ financial statement under IFRS

In $2023,$ the state of$\text{'}$ New Jersey is in the process of investigating ABC company for violationof environmental laws, A penalty assessment has not been proposed yet. The company'sattorney feels an assessment is reasonably possible, and if an assessment is made, a paymentof$$5$ million is probable. Under U$.$S$.$ GAAP, ABC company should:

$7$

A$)$ record $$5$ million of loss in $2023$ financial statement

B$)$ record $$5$ million of gain in $2023$ financial statement.

C$)$ not record any loss in $2023$ financial statement.

D$)$ the accounting treatment can not be determined

$8.$ Debt issue costs for a bond issued at discount:

A$)$ should be recorded as expense in the period the debt is issued.

B$)$should result in a decrease in the effective interest rate.

C$)$should increase the cash proceeds from the sale of bond.D$)$ should be combined with any discount on bonds payable and amortized over the bond'sterm to maturity.

Green Industries purchased a machine from Cyan Corporation on January $1,2023.$ Inpayment for the $$148,000$ purchase, Green issued a two$-$year installment note to be paid in$9.$equal payments of $$6,761$ at the end of each month beginning January $31,2023.$ What wasthe effective interest rate in the transaction?

A$)8\%$B$)9\%$

C$)12\%$

D$)14\%$