Ched M3-15 Preparing Accrual Basis Journal Entries for Business Activities (LO 3-3) Junktrader is an online company that specializes in matching buyers and sellers of used items. Buyers and sellers can purchase a membership with Junktrader, which provides them advance notice of potentially attractive offers. a. Junktrader provided online advertising services for another company for $295 on account b. On the last day of the month, Junktrader paid $90 Cash to run an ad promoting the company's services. The ad ran that day in the c Received $380 cash in membership fees for the month from new members. d. Received an electricity bill for $138 for usage this month. The bill will be paid next month. e. Biled a customer $264 for helping sel some junk. Junktrader expects to receive the customer's payment by the end of next month. . Required: 1. Prepare journal entries for the above transactions, which occurred during a recent month 2. Determine Junktrader's preliminary net income. Prepare journal entries for the above transactions, which occurred during a recent month. (if no entry is required for a transacti select "No Journal Entry Required" in the first account field.) View transaction list 3 points Journal entry worksheet eBook 3 Received $380 cash in membership fees for the month from new members. Record the transaction Print o References Notal Enter debits before credits Transaction General Journal Credit Cash Debit 300 380 Record entry Clear entry View general journal Red 2 > ME select "No Journal Entry Required" in the first account field.) Pecent month. (If no entry is required for a transactio View transaction list 3 points Journal entry worksheet INTRODUCTION. Chapter 3 Graded Homework Connect Chapter 3 Graded Homework Question 1 - Chapter 3 Graded Homework - Connect Saved 1 Junktader is an online company that speciales in matching buyers and sellers or used items. Buyers and seners can purchas membership with Junktrader, which provides them advance notice of potentially attractive offers. 3 points a. Junktrader provided online advertising services for another company for $295 on account b. On the last day of the month, Junktrader paid $90 cash to run an ad promoting the company's services. The ad ran that day local newspaper. c Received $380 cash in membership fees for the month from new members d. Received an electricity bill for $138 for usage this month. The bill will be paid next month. e. Billed a customer $264 for helping sell some junk Junktrader expects to receive the customer's payment by the end of next Book Required: 1. Prepare journal entries for the above transactions, which occurred during a recent month, 2. Determine Junktrader's preliminary net income. Print o References Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine Junktrader's preliminary net income. Preliminary Net Income
