36-41 please

Question 36 (1 point) On May 20, White Repair Service extended an offer of $108,000 for land that had been priced for sale at $140,000. On May 30, White Repair Service accepted the seller's counteroffer of $115,000. On June 20, the land was assessed at a value of 595,000 for property tax purposes. On July 4, White Repair Service was offered $150,000 for the land by a national retail chain. At what value should the land be recorded in White Repair Service's records? $95.000 $108,000 $115.000 $140,000 Question 37 (1 point) Receiving payments on an account receivable increases both equity and assets. True False Question 38 (1 point) Paying an account payable increases liabilities and decreases assets. True False 3 Question 39 (1 point) Expenses are recorded when a bill is received in advance of services rendered cash is paid for services rendered 9 assets are used in the process of earning revenue assets are purchased -- 12 Question 40 (1 point) The process of recording a transaction in the journal is called 15 ledgerizing joumalizing 18 posting summarizing 21 Question 41 (1 point) A statement of owner's equity reports the changes in the owner's equity for a period of time. True False