1. Open T-accounts for Advertising Expense, Prepaid Advertising, Unearned Flight Revenue, and Flight Revenue.

2. Journalize these entries by debiting an asset account for Prepaid Advertising and by crediting a liability account for Unearned Flight Revenue.

3. Journalize related adjustments.

4. Post the entries to the T- accounts, and show their balances.

Havenhill Company
Adjusted Trial Balance
December 31, 2014
ACCOUNT	DEBIT	CREDIT
Accounts Receivable	29600
Advertising Expenses	6600
Cash	10200
Computer Equipment	54000
Depreciation	28500
Furniture	120000
Prepaid Advertising	19200
Purchase	2975
Salaries Expenses	84500
Supplies	3900
Travel Expenses	32100
R. Paris, Withdrawals	45000
Accounts Payable		30975
Accumulated Amortization Computer equipment		13500
Accumulated Amortization - Furniture		15000
Advanced Received for Future Services		4000
R. Paris, Capital		98000
Consulting Revenue		273100
Salaries Payable		2000
Total	436575	436575

Req. 1 and 4

Advertising Expense

Prepaid Advertising

Unearned Flight Revenue

Flight Revenue

Req. 2

Journal
DATE 2014		ACCOUNT TITLES AND EXPLANATIONS	POST. REF.	DEBIT	CREDIT

Req. 3

Journal
DATE 2014		ACCOUNT TITLES AND EXPLANATIONS	POST. REF.	DEBIT	CREDIT