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Name: ID: B 30. Isaac Co. sells merchandise on credit to Sonar Co in the amount of $9,600. The invoice with terms of 1/15, net 45S. What is the amount of the discount and up to what date must tihe it is dated on April 15 a. $96, April 30 b. $96, April 25 c. $192, April 25 d. $80, April 30 31. Which of the following below is an example of a capital expenditure? replacing all burned-out light bulbs in the factory b. a. replacing an engine in a company car c. tune-up for a company truck d. cleaning the carpet in the front room 32. On December 31, Cage Company has decided to discard one of its batting cages. The initial cost of the equipment was $215,000 with an accumulated depreciation of $185,000. Depreciation has been taken up to the end of the year. The following will be included in the entry to record the disposal. a. Credit Equipment $215,000 b. Credit Gain on Disposal of Asset $30,000 c. Debit Accumulated Depreciation $215,000 d. Debit Loss on Disposal of Asset $185,000 33. Using accrual accounting, revenue is recorded and reported only a. if cash is received after the services are rendered b. when cash is received without regard to when the services are rendered c. when the services are rendered without regard to when cash is received when cash is received at the time services are rendered d. The retained earnings statement begins with the beginning balance followed by 34. a. net income (loss) and issuances of capital stock b. issuances of capital stock and dividends issuances of capital stock, net income (loss), and dividends c. d. net income (loss) and dividends Allowance for Doubtful Accounts has a credit balance of $1,400 at the end of the year (before adjustment). The company prepares an analysis of customers' accounts to estimate the amount of uncollectible accounts of $17,900. year? 35. record the Bad Debt Expense for the Which of the following adjusting entries would be made to a. b. c. d. debit Bad Debt Expense, $19,300; credit Allowance for Doubtful Accounts, $19,300 debit Allowance for Doubtful Accounts $19,300; credit Bad Debt Expense, $19,300 debit Bad Debt Expense, $16,500; credit allowance for Doubtful Accounts, $16,500 debit allowance for doubtful Accounts, $16,500; credit Bad Debt Expense, $16,500

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