Question: Please answer with full explanation and calculation 27. You make a delivery to a customer with the shipping terms FOB Destination and receive an invoice

Please answer with full explanation and calculation

27. You make a delivery to a customer with the shipping terms "FOB Destination" and receive an invoice from Fedex for $500 payable by the end of month. The entry to record this invoice would be: (1 Point) Dr. Inventory 500, Cr. A/P Fedex 500 Dr. Delivery expense 500, Cr. A/P Fedex 500 28. You purchase a delivery vehicle on January 1st. of the year and realize that on December 31st end of year you had not recorded any depreciation expense during the year. The delivery vehicle was purchased for $40,000 with a salvage value at the end of 10 years of $4,000. You need to record all of the missed depreciation expense for this year. Which is the correct journal entry to record this situation on Dec 31. (1 Point) Dr. Depr exp, Del V. 300, Cr. Del. V. 300 Dr. Del V. 300, Cr. Dep exp Del V.. 300 Dr. Depr exp, Del V. 3,600, Cr. Del, V. 3,600 Dr. Depr exp, Del V. 3,600, Cr. Acc. Depr. Del. V. 3,60029. You have a payment to make on the bank loan of the delivery vehicle of $300 at the end of every month. The bank takes the payment on the 28th day of each month. Your scheduled payment this month includes $60 in interest and $240 against the principle amount owed. You need to record an entry at the end of the month for this transaction. Which of the following entries would be the correct entry? (1 Point) Dr. Cash 300, Cr. Bank Loan 300 Dr. Interest exp 60, Dr, Bank Loan 300, Cr Cash 240 Dr. Interest exp 60, Dr, Bank Loan 240, Cr Cash 300 Dr. Interest exp 240, Dr, Bank Loan 60, Cr Cash 300 30. You are performing some closing entries and need to close out the following three accounts and related amounts: Sales $150,000, Sales Returns and Allowances (SRA) $20,000, Sales Discounts (SD) $5,000. Which of the following closing entries would be correct: (1 Point) Dr. Capital 125,000, Cr. Sales 150,000, Cr. SRA 20,000 Dr. Inc Summary 125,000, Cr. Sales 150,000, Cr. SRA 20,000 Dr. Sales 125,000, Cr, SRA 20,000, Cr. SD 5,000, Cr. Inc Summ 125,000 Dr. Sales 150,000, Cr. SRA 20,000, Cr. SD 5,000, Cr. Inc Summ 125,000

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