$2$

E$3-6($Algo$)$ Identifying Accrual Basis Expenses $[$LO $3-1,$ LO $3-2]$

Under accrual basis accounting, expenses are recognized when incurred, which means the activity giving rise to the expense has

$2$

occurred. Ass$$me the following transactions occurred in January:

points

eBook

References

Required:

For each of the transactions, if an expense is to be recognized in January, indicate the amount.

$\backslash$table$[[$Activity$,$Amount$],[\backslash$table$[[$a$.$ Dugg paid its computer service technicians $$75,000$ in salary for work done in$],[$January$.$ Answer from Dugg's standpoint.$]],],[\backslash$table$[[$b$.$ At the beginning of January, Turner Construction Company paid $$6,300$ in rent$],[$for February$-$April.$]],],[\backslash$table$[[$c$.$ McGraw$-$Hill Education$-$publisher of this textbook$-$used $$6,050$ worth of$],[$electricity and natural gas in January, which it has not paid or recorded.$]],],[\backslash$table$[[$d$.$ Pooler Company received and paid in January a $$2,100$ invoice from a$],[$consulting firm for services received in January.$]],],[\backslash$table$[[$e$.$ The campus bookstore received consulting services at a cost of $$7,250.$ The$],[$terms indicate that payment is due within $30$ days of the consultation.$]],],[\backslash$table$[[$f$.$ Schergevitch Incorporated had its delivery van repaired in January for $$265$