10 point Transaction 3: Sold equipment at its cost of $5,000 on account. Q29. In

Question

10 point Transaction 3: Sold equipment at its cost of $5,000 on account. Q29. Indicate the account title to be debited by $5,000 0 Acct Payable OB, Cash O c. Gain on Sale of huipment D. Equipment OE, None QUESTION 31 10 points Transaction 4: Declared that the company would pay $30,000 in cash dividends to investors next month Q31. Indicate the account title to be debited by $30,000. O A. Acet Receivable O B. Acct Payable ° C. Cash O D. Retained Earnings O E. None QUESTION 32 10 points Save Transaction 4: Declared that the company would pay $30,000 in cash dividends to Investors next 032. Indicate the account title to be credited by $30,000 month.

Explanation / Answer

Q. 29 E. None

Q. 31 D. Retained Earnings

Q. 32 B. Dividend Payable

Q. 33 D. Insurance Expense

Q. 34 C. Cash

Q. 35 D. $800

Q. 36 D. Prepaid Insurance

Q. 37 C. Insurance Expense

Q. 38 B. Cash

Q. 39 C. Long Term Note Payable

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