a. Performed $21,100 of services on account. b. Collected $15,900 cash on accounts receivable. C. Paid $4,800 cash in advance for an insurance policy. d. Paid $930 on accounts payable. e. Recorded the adjusting entry to recognize $3,600 of insurance expense. f. Received $11,400 cash for services to be performed at a later date. g. Purchased land for $1,150 cash. h. Purchased supplies for $1,300 cash. Required Record each of the above transactions in general rnal form and then show the effect of the transaction in a horizontal statements model. The first transaction is shown as an example. Credit Transaction a Account Titles Accounts receivable Service revenue Debit 21,100 21,100 View transaction list :X 1 Collected $15,900 cash on accounts receivable. 2 Paid $4,800 cash in advance for an insurance policy. 3 Paid $930 on accounts payable. 4 Recorded the adjusting entry to recognize $3,600 of insurance expense. 5 Received $11,400 cash for services to be performed at a later date. 6 Purchased land for $1,150 cash. 7 Purchased supplies for $1,300 cash. Note : = journal entry has been entered Journal entry worksheet Collected $15,900 cash on accounts receivable. Note: Enter debits before credits. Transaction General Journal Debit Credit b Record entry Clear entry View general journal Show the effect of the transaction in a horizontal statements model. The first transaction is shown as an example. (In the Statement of Cash Flows column, use OA to designate operating activity, IA for investment activity, FA for financing activity, and NC for net change in cash. Enter any decreases to account balances with a minus sign.) Transaction Assets Liabilities + Equity Revenue Expenses Net Income Statement of Cash Flow a. 21,100 + 21,100 21,100 21,100 b. - + + C. + d. e. + + + + + f. g. + = + h. + + Total 21,100 0 + 21,100 21,100 0 = 21,100 0