32. SPECIAL JOURNALS: In which journal is a sale on account recorded?

		A. Cash Receipts
		B. Cash Payments
		C. Purchases
		D. Sales
		E. None of the above

33. FINANCIAL STATEMENTS: Which financial statement shows how much money the owner has in the business at both the beginning of the period and at the end of the period?

		A. Income Statement
		B. Statement of Owners Equity
		C. Balance Sheet
		D. Statement of Cash Flow
		E. None of the above

34. BANK RECONCILIATION: What type of account is interest revenue?

		A. Asset
		B. Liability
		C. Equity--Revenue
		D. EquityExpense
		E. None of the above

35. BANK RECONCILIATION: In a bank reconciliation, the amount of the NSF check is?

		A. Added in the bank part of the reconciliation
		B. Subtracted in the bank part of the reconciliation
		C. Subtracted in the book part of the reconciliation
		D. Added in the book part of the reconciliation
		E. None of the above

36. SPECIAL JOURNALS: In which journal is the purchase of merchandise inventory on account recorded?

		A. Cash Receipts
		B. Cash Payments
		C. Purchases
		D. Sales
		E. None of the above

37. JOURNAL ENTRIES: What is the journal entry to record the sale of $2,000 of merchandise on account with a sales discount of 200?

		A. Dr. Accounts Receivable 2,000; Cr. Sales Discounts 200 Cr. Sales Revenue 1,800
		B. Dr. Sales Revenue 1,800; Cr. Accounts Receivable 1,800
		C. Dr. Cash 1,800; Dr. Sales Discounts 200 Cr. Sales Revenue 2,000
		D. Dr. Sales Revenue 2,000; Cr. Accounts Payable 2,000
		E. None of the above

38. JOURNAL ENTRIES: The balance in withdrawals is 15000 and the name of the owner of the company is Ruiz. What is the closing entry?

		A. Dr. Income Summary 15,000; Cr. Ruiz, Withdrawals 15,000
		B. Dr. Ruiz Withdrawals 15,000; Cr. Ruiz Capital 15,000
		C. Dr. Income Summary 15,000; Cr. Ruiz, Capital 15,000
		D. Dr. Ruiz Capital 15,000; Cr. Income Summary 15,000
		E. None of the above

39. JOURNAL ENTRIES: What is the adjusting journal entry to record the accrual of $1,000 of interest income on a note receivable?

		A. Dr. Note Receivable 1,000; Cr. Interest Revenue 1,000
		B. Dr. Interest Receivable 1,000; Cr. Note Receivable 1,000
		C. Dr. Interest Receivable 1,000; Cr. Interest Revenue 1,000
		D. Dr. Cash 1,000; Cr. Note Receivable 1,000
		E. None of the above

40. BANK RECONCILIATION: In a bank reconciliation if the EFT collection is 10,000, what is the journal entry to record the EFT collection on account?

		A. Dr. Cash 10,000 Cr. Accounts Payable 10,000
		B Dr. Cash 10,000 Cr. Accounts Receivable 10,000
		C. Dr. Accounts Payable 10,000 Cr. Cash 10,000
		D. Dr. Accounts Receivable 10000 Cr. Accounts Payable 10000