1. On October 1, the accounts receivable account balance was $208,400. During October, $298,500 was collected from customers on account. Assuming the October 31 balance was $125,300, determine the fees billed to customers on account during October.

2. On November 30, the company accountant discovers that $550 of a transaction recording the purchase of office supplies was really office equipment. Prepare the journal entry to correct this situation.

3. State for each account whether it is likely to have (a) debit entries only, (b) credit entries only, or (c) both debit and credit entries when recording business transactions during the month. Also, indicate the normal balance of each account.

1.	Fees Earned	4.	Supplies
2.	Utilities Expense	5.	Cash
3.	Accounts Payable	6.	Accounts Receivable

4. On December 1, JumpStart Company provides $2,800 in services to clients.

(a) Journalize this event as if the clients had paid cash at the time the services were rendered.

(b)(1) Journalize this event as if the clients had been rendered the services on account.

(b)(2) Assume that the clients paid $1,200 of the amount on account on December 30. Journalize this transaction.

5. Prepare a journal entry for the purchase of a truck on April 4 for $85,700, paying $15,000 cash and the remainder on account. Omit explanation.

6. On August 30, JumpStart incurred the following expenses:

Payment to the landlord for August rent, $2,300

Payment to the Gas & Electric Company for Augusts bill, $525

Payment of employee wages for the last half of August, $1,750

Payment of shopping centers parking lot cleaning fee, $275

Journalize these payments as one journal entry.

7. On December 1, Nikle Company made a cash payment of $200,000 on a note payable that was generated in the purchase of a building and land. Provide the journal entry for this transaction.

8. On January 31, the cash account balance was $96,750. During January, cash receipts totaled $305,000 and cash payments totaled $375,880. Determine the cash balance on January 1.