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Jason runs a consulting services company, and engages in business activities with Marcus Roberts Inc., a service provider. For the month of December 2019, the
Jason runs a consulting services company, and engages in business activities with Marcus Roberts Inc., a service provider. For the month of December 2019, the following transactions occurred: Dec 1 Marcus Roberts Inc. hires Jason for his consulting services at the end of the month of December and pays Jason $1000 in advance for the same. Marcus Roberts Inc. provides maintenance service to Jason on account, $500. a. Dec 6 b. Dec 9 Jason borrows $800 from Marcus Roberts Inc. by signing a note to repay later. Marcus Roberts Inc. purchases IT equipment from ICT Corporation, paying cash of $800. c. Dec 12 Dec 16 Jason pays $500 to Marcus Roberts Inc. for maintenance provided on Dec 6. d. Dec 21 Jason pays the utility bill for the month of Dec, $100. Marcus berts receives consulting services from Jason for the amount paid le. Dec 29 on Dec 1. If. Dec 31 Jason pays $800 to Marcus Roberts Inc. for money borrowed on Dec 9. Required: For each of the above activities, prepare journal entries for Jason on each transaction date. Please note that it might not be necessary for Jason to record all the transactions
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