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Question 13 8 points Save Answer Llama Company borrowed $60,000 from Brown Bank and signed a promissory note on January 1. What entry should Llama Company record on January 1? Cash $60,000 Notes Payable $60,000 OA $60,000 Accounts Payable Cash OB. $60,000 Cash OC. $60,000 Notes Receivable $60,000 $60,000 Notes Payable Cash OD. $60,000 Question 14 8 points Save Answe The Boston Airport sells sushi for $20 a box. The sales tax percentage is 5%. What is the journal entry recorded by the Boston Airport for the sale of one box of sushi for cash? Cash $20 Sales Tax Expense $1 Sales Revenue . $21 Cash $21 Sales Revenue Deferred Revenue OB $20 $1 Cash $21 Sales Revenue Sales Tax Payable . $20 $1 Cash $20 Sales Tax Payable $1 Service Revenue OD $21 Question 15 8 points Save Answer Waco Spa sold a gift certificate good for $100 of services on January 1st. On January 22nd $70 of the gift certificate was redeemed (used) by a customer for a treatment. What is the entry Waco Spa will record on January 22nd? $70 Deferred Revenue Service Revenue . $70 $70 Undeferred Revenue Deferred Revenue OB. $70 $70 Deferred Revenue Cash , $70 $70 Service Revenue Deferred Revenue OD $70 Question 16 8 points Save Answer is an existing uncertain situation that might result in a loss depending on the outcome of a future event. Deferred Liability OA Note Payable . Uncollectible Payable . Contingent Liability OD

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