Exercise 11-20A Determine cash paid for operating expenses (LO11-7)

Consider the three independent situations below (amounts are $ in millions): Required: 1. Calculate cash paid for operating expenses. (Enter your answers in millions (i.e., $10,100,000 should be entered as 10.1)

2. Prepare the summary journal entry for each situation.

Situation Operating Expenses Cash Paid for Operating Expenses 100 100 100 100 Prepaid Insurance Increase Decrease) 15 (15) 15 (15) Salaries Payable increase (Decrease 10 10 (10) (10) Journal entry worksheet Record the payment of cash for operating expenses. Notes de debatore credits General Journal Debt Code Record entry