Question 15 (1 point) When closing entries are recorded, which one of the following steps occurs? A) Debit all expense accounts for their full balance B) None of the above C) Credit the income summary account by the amount of the dividends declared D) Credit all revenue accounts for their full balance Question 20 (1 point) The journal entry to record the issue of bonds at a discount will include a A) credit to Cash for the face amount of the bonds. debit to Cash for the face amount of the bonds minus the amount of the discount. debit to Cash for the face amount of the bonds. debit to Cash for the face amount of the bonds plus the amount of the discount. Question 19 (1 point) Fly Arrow Limited gathered the following reconciling information in preparing its November bank reconciliation: Cash balance per books, November 30 $40,000 Electronic collection of account 15,000 Outstanding cheques 13,000 Deposits in transit |17,000 Bank service charge 3,500 NSF cheque 2,000 The reconciled cash balance per books on November 30 is: A) $25,000 B) $19,500 C) $43,000 OD) $39,500