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help Vanishing Games Corporation (vGC) operates a massively multiplayer online game, charging players a monthly subscription of $11. At the start of January 2021, VGC's
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Vanishing Games Corporation (vGC) operates a massively multiplayer online game, charging players a monthly subscription of \$11. At the start of January 2021, VGC's income statement accounts had zero balances and its balance sheet account balances were as follows: In addition to the above accounts, VGC's chart of accounts includes the fotlowing: Service Revenue, Salaries and Wages Expense. Advertising Expense, and Utiltes Expense The January transoctions are shown below a Received $62.250 cash from customets on 1/1 for subscriptions that had already been earned and charged on account in 2020 b Purchased 10 new computer servers for $34,200 on 1/2, paid $15,300 cash and signed a three-year note for the remainder owed. c. Paid $19.400 for an internet advertisement run on 1/3 d On January 4 . purchased and received $3.400 of supplies on account e Recetved $180,000 cash on 1/5 from customets for service revenue earned in Januafy t. On January 6. paid $3,400 cash for supplies purchased on January 4 g. On Januery 7, sold 16,300 subscriptions ot \$1t each for services provided duning January. Haif was collected in cash and haif was sold on account n. Paid $326,000 in wages to employees on 1/30 for work done in January 1 On January 31, received an electic and gas utitity bili for $5,670 for January utility services. The bill witi be paid in february f. On January 6, paid $3,400 cash for supplies purchased on January 4 g. On January 7 , sold 16,300 subscriptions at $11 each for services provided during January. Half was collected in cash and half was sold on account h Paid $326,000 in wages to employees on 1/30 for work done in January. I On January 31 , received an electric and gas utility bill for $5,670 for January uttlity services. The bill will be paid in February. Use the dropdowns to select the accounts properly induded on the classified balance sheet. You will need to determine and enter the balance of the Common Stock and Retained Eamings accounts in the Stockholders' Equity Step by Step Solution
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