Question: multiple choice 6.7 and 8 Question 6 (1 point) Which of the following best describes the purpose of the adjusted trial balance? To verify that
Question 6 (1 point) Which of the following best describes the purpose of the adjusted trial balance? To verify that all of the adjusting entries have been posted To verify that the net income (loss) is correctly reported To verify that no adjusting journal entry has been omitted To verify that the debits and credits balance Question 7 (1 point) Fees Earned 3,800 Unearned Revenue 3,800 What is the best explanation for this entry? It records payment of fees earned It records fees earned at the end of the month t records fees that have not been earned at the end of the month It records the payment of fees to be earned Question 8 (1 point) A business pays weekly salaries on Friday of $25,000 for a five-day week ending on Friday Assuming the fiscal period ends on a Wednesday, the adjusting entry for accrued salaries would involve a: debit to salary expense for $15,000 credit to salary payable for $10,000 credit to salary expense for $15,000 debit to salary payable for $15,000
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