Note: for question 1,2,3 >> please choose the right options from the bold options

Question - 1

The transaction on 3/1 "Customers purchased services in advance of $300 which will be performed later" should be recorded using a PLUS/ MINUS to CASH/ A.R. / A.P. / UNEARNED REV. / R.E. as well as a PLUS/ MINUS to PLUS/ MINUS to CASH/ A.R. / A.P. / UNEARNED REV. / R.E. moving from left to right in a tabular analysis.

Question: 2

The transaction on 3/18 "Purchased supplies of $130 on account" should be recorded using a PLUS/ MINUS to CASH/ A.R. / PRE. EXP. / SUPP. as well as a PLUS/ MINUS to PRE. EXP. / SUPP./ A.P. / R.E.

Question- 3

The transaction on 3/30 "Received $400 from customers on account" should be recorded using a PLUS/ MINUS to CASH/ A.R. / UNEARN. REV. / R.E. as well as a PLUS/ MINUS to A.R. / A.P. / UNEARN. REV. / R.E. moving from left to right in a tabular analysis.

Question- 4

What were the company's cash flows for investing activities for March? Use a positive number to indicate an overall (i.e. net) inflow or a negative number to indicate an overall outflow.

The Aguilar Corporation had the following tabular analysis, using the same abbreviations as those used in class: Required: 1. Record each of the following transactions/events in the tabular analysis above including the date of each transaction as well as descriptions of amounts in the Cash and R/E columns. 3/1 Customers purchased services in advance of $300 which will be performed later. 3/1 Purchased equipment for $23,120 on account; management expects it will be useful for 6 years at which time it should be worth $800. 3/1 Performed $4,000 of consulting services for customers. 3/1 Purchased a six month insurance policy for $1,380. 3/12 Paid advertising of $640. 3/18 Purchased supplies of $130 on account. 3/20 Performed $600 of services for customers on account. 3/22 Services previsouly sold in advance for $200 were preformed. 3/23 Received a utility bill for $450; will be paid next month. 3/30 Paid employee payroll of $1,400. 3/30 Received $400 from customers on account. 3/30 Made payment on bank loan of $900. 3/30 Supplies on hand reported at $190. 2. Use the resulting tabular analysis to prepare an income statement, statement of retained earnings, balance sheet and statement of cash flows for the month. 3. Assuming the equipment was sold for $20,000 on March 30th (after depreciation was recorded), record the necessary transaction