If San Antonio Company billed a client for $10,000 of consulting work completed, the accounts receivable asset increases by $10,000 and:

On July 1, Silver Spurs Hotel borrowed $250,000 cash by signing a 10-year, 8% installment note requiring equal payments each June 30 of $37,258. What is the journal entry to record the first annual payment?

Dean’s Dance Studio received $3,000 from a customer for services provided. Dean’s general journal entry to record this transaction will be:

Dover Company is required by law to collect and remit sales taxes to the state. If Dover has $8,000 of cash sales that are subject to an 8% sales tax, what is the journal entry to record the cash sales?

J. Sicard, the sole stockholder, received a $100 dividend from Jay’s Limo Services. Which of the following general journal entries will Jay’s Limo Services make to record this transaction?

Stanton, Inc. purchased a depreciable asset for $22,000 on April 1, Year 1. The asset will be depreciated using the straight-line method over its four-year useful life. Assuming the asset’s salvage value is $2,000, Stanton, Inc.  should recognize depreciation expense in Year 2 in the amount of:

Gordon Company uses the allowance method of accounting for uncollectible accounts. On May 3, the Gordon Company wrote off the $2,000 uncollectible account of its customer, A. Hopkins. On July 10, Gordon received a check for the full amount of $2,000 from Hopkins. On July 10, the entry or entries Gordon makes to record the recovery of the bad debt is:

A company purchased new furniture at a cost of $14,000 on September 30. The furniture is estimated to have a useful life of 8 years and a salvage value of $2,000. The company uses the straight-line method of depreciation. How much depreciation expense will be recorded for the furniture for the first year ended December 31?

A piece of equipment with a cost of $130,000 and accumulated depreciation of $85,000 is sold for $50,000 cash. The amount that should be reported in the operating activities section reported under the direct method is:

J. Sicard, the sole stockholder, received a $100 dividend from Jay’s Limo Services. Which of the following general journal entries will Jay’s Limo Services make to record this transaction?