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Arrow-Plain provides sight-seeing tours in vintage biplanes. The company is owned by Alex Bell. The closing balances at the end of October 2018 and the

Arrow-Plain provides sight-seeing tours in vintage biplanes. The company is owned by Alex Bell. The closing balances at the end of October 2018 and the chart of accounts is shown below.

Arrow-Plain Balance Sheet As at October 31, 2018
Assets Liabilities
Cash $7,900 Accounts Payable $7,300
Accounts Receivable $6,400 Unearned Revenue $3,700
Prepaid Insurance $1,700 Notes Payable $20,000
Equipment $40,900 Total Liabilities $31,000
Owners' Equity
Bell, Capital $25,900
Total Assets $56,900 Total Liabilities & Owners' Equity $56,900

Account Description Account # Account Description Account #
ASSETS REVENUE
Cash 101 Service Revenue 400
Accounts Receivable 105 EXPENSES
Prepaid Insurance 110 Advertising Expense 500
Equipment 120 Insurance Expense 515
LIABILITIES Interest Expense 520
Accounts Payable 200 Telephone Expense 550
Interest Payable 205
Unearned Revenue 210
Notes Payable 215
OWNER'S EQUITY
Bell, Capital 300
Bell, Withdrawals 310

During the month of November, Arrow-Plain had the following transactions.

Do not enter dollar signs or commas in the input boxes.

Date Account Title and Explanation PR Debit Credit
2018
Nov 3 Cash Answer $6,000
Bell, Capital Answer $6,000
Owner invested cash
Nov 7 Cash Answer $1,210
Unearned Revenue Answer $1,210
Received deposit for future services
Nov 13 Insurance Expense Answer $580
Accounts Payable Answer $580
Record insurance bill
Nov 17 Interest Expense Answer $120
Cash Answer $120
Paid interest bill
Nov 24 Accounts Receivable Answer $2,160
Service Revenue Answer $2,160
Provide service on account

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