Use This Information Pertaining to Tucson Company to Answer the Following

question 101

Multiple Choice

Use this information pertaining to Tucson Company to answer the following question. 1.The corporation's Supplies account showed a beginning debit balance of $400 and supplies purchased of $1,600.There were $600 of supplies on hand at year end.
2) Depreciation on a building is estimated to be $10,000.
3) A one-year insurance policy was purchased for $4,800.Five months have passed since the purchase.
4) Accrued interest on a note receivable amounted to $200.
5) The company received a $3,600 advance payment during the year on services to be performed.By the end of the year,one-third of the services had been performed.
The adjusting entry to record the accrued interest on the note is

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Definitions:

Classification

The systematic arrangement or categorization of entities or items based on shared characteristics or qualities.

Tort

A civil wrong or breach of duty to another person, recognized by law as grounds for a lawsuit, resulting in an injury or harm that warrants compensation.

Intentional Tort

A wrongful act done on purpose that causes harm to another, including acts such as assault, battery, and defamation, as distinguished from negligence.

False Imprisonment

The intentional confinement or restraint of a person against his or her will.