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Question 1 0.1 pts On March 15th, the company receives $500 for services that will be performed later in the month. On March 15th: The debit should be: cash The credit should be: The amount should be: 500 (DO NOT ENTER A DOLLAR SIGN IN YOUR ANSWER. For example: ENTER 200 not $200) Question 2 0.1 pts On March 15th, the company receives $500 for services that will be performed later in the month. During the month of March, the company provides half of the services to the customers. On March 31 (the adjusting journal entry): The debit should be: The credit should be: The amount should be: (DO NOT ENTER A DOLLAR SIGN IN YOUR ANSWER. For example: ENTER 200 not $200) Question 3 0.1 pts On May 1st; the company borrows $7,000 from the bank and signs a note. The company plans on repaying the note two years later. On May 1st: The debit should be: The credit should be: The amount should be: (DO NOT ENTER A DOLLAR SIGN IN YOUR ANSWER. For example: ENTER 200 not $200) Question 4 0.1 pts On May 1st; the company borrows $7,000 from the bank and signs a note. The company plans on repaying the note two years later. The bank charges 12% annual interest. On December 31st (the adjusting entry): The debit should be: The credit should be: The amount should be: (DO NOT ENTERA DOLLAR SIGN IN YOUR ANSWER. For example: ENTER 200 not $200)

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