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a. Performed $26,000 of services on account. b. Collected $22,900 cash on accounts receivable. c. Paid $4,300 cash in advance for an insurance policy.
a. Performed $26,000 of services on account. b. Collected $22,900 cash on accounts receivable. c. Paid $4,300 cash in advance for an insurance policy. d. Paid $960 on accounts payable. e. Recorded the adjusting entry to recognize $3,300 of insurance expense. f. Received $7,700 cash for services to be performed at a later date. g. Purchased land for $1,170 cash. h. Purchased supplies for $900 cash. Required Record each of the preceding transactions in general journal form and then show the effect of the transaction in a horizontal statements model. The first transaction is shown as an example. Transaction Account Title a Accounts receivable Service revenue Debit 26,000 Credit 26,000 Complete this question by entering your answers in the tabs below.
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