<p>Question 6 /12</p>
<p><strong>A company receives $10,000 in cash for services yet to
be performed.</strong></p>
<p><strong>Using the accrual method, what's the correct entry to
record the transaction?</strong></p>
<p>(A) Debit cash $10,000, credit accounts receivable $10,000</p>
<p>(B) Debit cash $10,000, credit sales revenue$1 0,000</p>
<p>(C) Debit sales revenue $10,000, credit cash $10,000</p>
<p>(D) Debit cash $10,000, credit unearned revenue $10,000</p>
<p>(E) Debit cash $10,000, credit accounts payable $10,000</p>
<p> </p>
<p>Question 7 /12</p>
<p><strong>Per company policy, tools with a purchase price greater
than $1,000 are capitalized. What's the correct entry to record a
tool purchase of $500?</strong></p>
<p>(A) Debit tools expense $500, credit cash $500</p>
<p>(B) Debit fixed asset $500, credit tools expense $500</p>
<p>(C) Debit fixed asset $500, credit cash $500</p>
<p>(D) Debit fixed asset $1,000, cred it cash $1,000</p>
<p>(E) Debit tools expense $1,000, cred it cash $1,000</p>
<p> </p>
<p>Question 9 /12</p>
<p><strong>A company performs $10,000 of services and issues an
invoice to the customer. Using the accrual method. what's the cored
entry to record the transactions?</strong></p>
<p>(A) Debit unearned revenue $10,000, credit salles revenue
$10,000</p>
<p>(B) Debit accounts payable $10,000, credit sales revenue
$10,000</p>
<p>(C) Debit services expense $10,000, credit sales revenue
$10,000</p>
<p>(D) Debit cash $10,000, credit sales revenue $10,000</p>
<p>(E) Debit accounts receivable $10,000, credit salles revenue
$10,000</p>
