2. Your company is open Monday-Friday and pay your employees Monday for the work done the prior week. The weekly payroll is $5,000 and the end of March ends on a Wednesday. Therefore, the employees worked for 3 days in March (increase expense) that they haven't been paid for yet (increase liability). On March 31, the journal entry is:

3. One month passes, so you use (increase expense) 1 month's worth of the $1,200 6-month cost of your car insurance (decrease asset). The journal entry is:

7. You pay your employees $2,000 cash for hours they worked. The journal entry is:

8. Your company is open Monday-Friday and pay your employees Monday for the work done the prior week. The weekly payroll is $5,000 and the end of March ends on a Wednesday. Therefore, the employees worked for 3 days in March that they haven't been paid for yet. On March 31, the journal entry is:

11.

a. Your company is a retailer, like Macy's. The customer pays you $3,500 in cash for merchandise sold to them in the store. The journal entry is:

b. The inventory that you just sold only cost you $2,000. The journal entry is:

12. You pay $500 cash to have the company's furnace repaired. The journal entry is:

13. You pay $1,500 cash for advertising in today's newspaper. The journal entry is:

14. You paid cash for dividends to the owners of $900. The journal entry is:

15. You used $300 worth of office supplies that you purchased earlier. The journal entry is:

16. You get the utility bill of $500 for electricity used last month and will pay for it on the due date. The journal entry is:

17. One month passes, so you use 1 month's worth of the $1,200 6-month cost of your car insurance. The journal entry is:

18. You pay $800 cash for office supplies that you'll use in the future. The journal entry is:

19. You pay $1,200 cash in advance for your car insurance for the next 6 months. The journal entry is:

20. You mowed a lawn for a customer and billed the customer $100 that is due within the next 30 days. The journal entry is: