QUESTION 16 Use this narrative to answer the questions that follow J Rinaldi Software Design, an accrual basis business, engaged in the following transactions 1 in December of 2021, the company performed services for a client and sent a bill for $1,800 2) in December of 2021, the company used cell phone service and received a bill for $1.500 from the cell phone provider. 3) in January of 2022, the company collected to $1,800 fee from the client who was billed in December in January of 2022, the company paid the $1,500 amount owed to the cell phone provider for the December cell phone usage J. Rinaldi Software Design How much revenue should J. Rinaldi Software Design record in December of 2021? a $1,800 b. 50 0.5300 d. $1.500 QUESTION 17 Which of the following statements is true? a Every adjusting entry affects cash b. Every adjusting entry changes the balance of accounts payable c. Companies use adjusting entries to record revenues and expenses that accrue gradually d. Businesses usually record adjusting entries every day