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a. Performed $8,200 of services on account. b. Collected $5,600 cash on accounts receivable. c. Paid $1,450 cash in advance for an insurance policy. d.
a. Performed $8,200 of services on account. b. Collected $5,600 cash on accounts receivable. c. Paid $1,450 cash in advance for an insurance policy. d. Paid $400 on accounts payable. e. Recorded the adjusting entry to recognize $300 of insurance expense. f. Received $1,600 cash for services to be performed at a later date. g. Purchased land for $9,000 cash. h. Purchased supplies for $350 cash. Required Record each of the above 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. Debit Credit Transaction Account Titles Accounts receivable 8,200 Service revenue 8,200 Complete this question by entering your answers in the tabs below. Horizontal General Statements Journal Model Record each of the above transactions in general journal form. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 3 4 5 6 7 Collected $5,600 cash on accounts receivable. Note: Enter debits before credits. Credit Transaction General Journal Debit Record entry Clear entry View general journal Journal entry worksheet 4 5 6 Paid $1,450 cash in advance for an insurance policy. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet 3 4 5 6 Paid $400 on accounts payable. Note: Enter debits before credits. Transaction General Journal Debit Credit View general journal Record entry Clear entry Journal entry worksheet 3 Recorded the adjusting entry to recognize $300 of insurance expense. Note: Enter debits before credits. Debit Tran General Credit tion ournal View general journal Record entry Clear entry 4- Journal entry worksheet 1 2 4 6 Received $1,600 cash for services to be performed at a later date. Note: Enter debits before credits. Transaction General Journal Debit Credit Clear entry Record entry View general journal Journal entry worksheet 1 2 3 4 6. Purchased land for $9,000 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal LO Journal entry worksheet 2 3 5 Purchased supplies for $350 cash. Note: Enter debits before credits. ournal Debit ion Ger Credit Record entry View general journal Clear entry
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