Matrimonial Bliss Guaranteed is your own business. You are a wedding planner and marriage counselor.

You work from a rented office and drive your own car to clients, banquet halls, and so on. You use your own cell phone to speak with your clients and other facilities.

Your first month's transactions are listed below.

July 1	You set up a business bank account and acquire a business credit card. The bank will charge a fee of $16 at the end of each month.
July 2	You borrow $2,500 from the bank.
July 3	You deposit $3,000 of your own money into the business bank account.
July 4	You rent an office for the next four months for $400 per month, paying the full amount now.
July 5	You register your business name for $60 with Service Ontario, using the business credit card.
July 6	You purchase, using your business credit card, supplies for $500 plus HST.
July 7	You purchase, using your business credit card,a computer and colour printer for $1,500 from Better Buy. HST is already included.
July 8	You buy a two-year liability insurance policy for $2,400, plus 8% tax, paying cash.
July 10	You purchase for $200 cash, plus HST, 150 colour flyers to advertise your business. You haven't used any yet.
July 11	You pay a student $75 cash to distribute all your flyers.
July 12	You gave a quotation to a prospective engaged couple, to see if they liked it . You would normally have asked for a $100 deposit but you give it for free.
July 15	Two more couples hire you to plan their weddings. You will charge them each $5,000 when you provide the service in the future. They EACH pay a deposit of $1,000 cash. Weddings are expensive!
July 27	Business is wonderful! You have so far collected $20,000 in cash from happy couples who's weddings have happened already.
July 28	You now have only $250 worth of supplies left.
July 31	One month's rent on your garage has expired.
July 31	You received your cell phone bill for the month. Of the $80, three-quarters was business calls. The business will pay you next month.
July 31	One month of your insurance policy has expired.
July 31	The bank takes its monthly charge from the business bank account, plus an additional $12 for interest on the loan.
July 31	One of your July 15 customers got married today. They will pay their balance next week. The other customer's wedding is next weekend.
July 31	You pay three-fifths (i.e. 60%) of the balance owing on your business credit card. You will pay the rest next month.

Record the transactions into the expanded accounting equation using account names. Use that information to answer all of the following questions.

How will MBG record the July 11 transaction?

Choose ALL that apply.

Question 76 options:

a)	decrease Cash $75

b)	decrease Wages Expense $75

c)	decrease Prepaid Advertising $226

d)	decrease Cash $301

e)	decrease Advertising Expense $226

f)	increase Wages Expense $75

g)	increase Cash $75

h)	increase Advertising Expense $226

i)	increase Prepaid Advertising $226

j)	increase Cash $301

Question (1 point)

How will MBG record the July 12 transaction?

Question options:

a)	increase both Cash and Deferred Revenue, $100

b)	increase both Accounts Receivable and Deferred Revenue, $100

c)	increase both Accounts Receivable and Service Revenue, $100

d)	no entry is needed

e)	increase both Cash and Service Revenue, $100

Question (1 point)

How will MBG record the July 15 transaction?

Question options:

a)	increase both Accounts Receivable and Service Revenue, $10,000

b)	increase both Accounts Receivable and Deferred Revenue, $10,000

c)	increase both Cash and Deferred Revenue, $2,000

d)	increase both Cash and Service Revenue, $2,000

e)	no entry is needed until the couples are officially married.

Question (1 point)

How will MBG record the July 27 transaction?

Question 79 options:

a)	increase both Accounts Receivable and Deferred Revenue, $20,000

b)	increase both Cash and Deferred Revenue, $20,000

c)	increase both Cash and Service Revenue, $20,000

d)	no entry is needed

e)	increase both Accounts Receivable and Service Revenue, $20,000

Question 80 (1 point)

How will MBG record the July 28 transaction?

Question 80 options:

a)	Increase Supplies and decrease Supplies Expense, $250

b)	Increase Supplies Expense and decrease Supplies, $315

c)	Increase Supplies Expense and decrease Supplies, $565

d)	Increase Supplies and decrease Supplies Expense, $315

e)	Increase Supplies Expense and decrease Supplies, $250

Question (1 point)

How will MBG record the expiry of the rent on July 31?

Question options:

a)	decrease Prepaid Rent and increase Rent Expense $1,200

b)	decrease Prepaid Rent and increase Rent Expense $2,400

c)	decrease Prepaid Rent and increase Rent Expense $1,600

d)	decrease Prepaid Rent and increase Rent Expense $400

e)	no entry is required until year-end

Question (1 point)

How will MBG record the July 31 transaction? (the phone bill)

Question options:

a)	decrease Cash $60, increase Accounts Payable $80, and increase Phone Expense $20

b)	increase both Accounts Payable and Phone Expense, $80

c)	decrease Cash and increase Phone Expense, $80

d)	increase both Accounts Payable and Phone Expense, $60

e)	decrease Cash and increase Phone Expense, $60

answer as soon as possible