1 2 3 4 5 6 7 8 9 10 Expense matching and revenue recognition by month. Jan 18 Feb 18 Mar 18 Apr 18 May 18 June 18 Jul 18 Aug 18 Sept 18 Oct 18 Nov 18 Dec 18 Jan 19 Feb 19 Mar 19 Apr 19 May 19 June 19 11 12 Determine how much revenue/expense should be recorded for each month for the situations below. Complete the chart above Assume the company was started during January 2018. 1 In Jan. 2018, the company paid $3600 for 18 months of rent for its office. 2 In March 2018, the company paid $3,000 for 12 months of business liability insurance. 3 In Feb, 2018, the company bought $200 of supplies. At the end of February there were $50 of supplies remaining 4 In March 2018, the company bought $130 more in supplies. At the end of March there were $40 of supplies remaining. 5 In Apr. of 2018, the company bought a $6,000 computer. It will be used for 4 years so the cost should be spread evenly over 48 months. 6 The company estimates it used $350 of utilities during January 2018 but has not yet recorded the expense. (The bill will come in Feb.) 7 The company borrowed $10,000 on January 1 at 6% interest. The principle and interest are due on December 31, 2018. 8 The company borrowed another $10,000 on April 1 at 6 % Interest. The principle and interest are due December 31, 2018. 9 The company borrowed $30,000 on July 1, 2018 at 6% interest. The principle and interest are due December 31, 2019. 10 The company hired a temporary worker for $25/hr the week covering New Year's Eve. He workerd 30 hours. 20 hours before 12/31 and 10 hours after. The temporary worker will be paid during the second week of January. 11 In Aug. 2018, the company was paid $5,400 in advance for work that will be completed evenly over the months of Aug. 2018 to Apr. 19. 12 The company completed $500 of work for a client on May 30, 2018. They did not get around to sending the client a bill until June. The receivable from question 12 was collected in August.