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 $375 on account b. On the last day of the month, Junktrader paid $140 cash to run an ad promoting the company's services. The ad ran that day in the local newspaper c. Received $280 cash in membership fees for the month from new members. d. Received an electricity bill for $125 for usage this month. The bill will be paid next month. e. Billed a customer $186 for helping sell 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare Journal entries for the above transactions, which occurred during a recent month. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list View transaction list Journal entry worksheet 1 2 5 Junktrader provided online advertising services for another company for $375 on account. Record the transaction. Note: Enter debits before credits Transaction General Journal Debit Credit a Record entry Clear entry View general journal View transaction list Journal entry worksheet 1 2 2 3 4 5 On the last day of the month, Junktrader paid $140 cash to run an ad promoting the company's services. The ad ran that day in the local newspaper. Record the transaction. Note: Enter debits before credits. General Journal Transaction b. Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet 1 N 3 4 5 > Received $280 cash in membership fees for the month from new members. Record the transaction. Note: Enter debits before credits. Transaction General Journal Debit Credit c. Record entry Clear entry View general journal View transaction list Journal entry worksheet Billed a customer $186 for helping sell some junk. Junktrader expects to receive the customer's payment by the end of next month. Record the transaction. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Required 1 Required 2 Prepare journal entries for the above transactions, which occurred during a recent month. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) View transaction list View journal entry worksheet No Transaction General Journal Debit Credit Required 2 > Required: 1. Prepare journal entries for the above transactions, which occurred during a recent month. 2. Determine Junktrader's preliminary net income. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine Junktrader's preliminary net income. Preliminary Not Income
