ULJCIPLIUI Academic Integrity Course Documents Instructions Timed Test This test has a time limit of 1 hour and 30 minutes. This test will save and submit automatically when the time expires. Warnings appear when half the time, 5 minutes, 1 minute, and 30 seconds remain. Multiple Attempts Not allowed. This test can only be taken once. Force Completion This test can be saved and resumed at any point until time has expired. The timer will continue to run if you leave the test. Your answers are saved automatically. Assignments Discussion Board Liberia Remaining Time: 34 minutes, 53 seconds. Less than half of the time remains. *Question Completion Status: > A Moving to another question will save this response. le Qu Question 27 The book value of an asset is equal to the asset's cost less accumulated depreciation. h asset's fair value less its historical cost. jo replacement cost of the asset. retained earnings of an asset. L A Moving to another question will save this response. MacBook Pro eu alu resumed at any point until time has expired. The timer will continue to run if you leave the test. Your answers are saved automatically. minutes, 34 seconds. w atus: A Moving to another question will save this response. Question 28 of 33 Question 28 3.03 points Saved Eastern Waves Co. sells surfboards and other beach gear. On 4/1, the company purchases on account an inventory of 200 surfboards at a total cost of $20,000. On 4/9 Eastern Waves makes the decision to return $1,000 worth of surfboards to its vendor. The entry to record the return would include a debit to a. Accounts Payable. Oh Purchase Returns and Allowances. c. Inventory. d. Accounts Receivable. >> Question 29 3.03 points Saved Local Beach Shop, located in Belmar, New Jersey, sells items such as beach towels, beach toys and sunscreen. On 5/1, the company purchases inventory of 100 toy dump trucks at a total cost of $1,100. The vendor offers Local Beach shop discount terms of 2/10, n/30 - a 2% discount is offered if Local Beach Shop pays within 10 days. If the company makes payment on 5/5, the necessary entry to record the payment will include a debit to a Inventory for $22. b. Accounts Payable for $1,100. Cash for $22. Accounts Payable for $1,078. >> A Moving to another question will save this response. MacBook Pro