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Over - the - Top Technologies ( OTT ) operates a computer repair and web consulting business. News Now ( NN ) publishes a local
OvertheTop Technologies OTT operates a computer repair and web consulting business. News Now NN publishes a local newspaper. The two companies entered into the following transactions. NN billed OTT for $ of advertising services provided this month on account. OTT repaired some of NNs equipment this month, for $ on account. NN collected $ cash from OTT for the advertising services provided in a NN paid $ cash to OTT for OTT advertising NNs online newspaper this month on OTT's Website. OTT and NN signed a promissory note, documenting OTT's $ cash loan to NN this month with repayment to occur in six months. Note: News Now NN records advertising revenue in the Advertising Revenue account. Required: Show the journal entries that OTT would record for items ae Show the journal entries that NN would record for items ae
OvertheTop Technologies OTT operates a computer repair and web consulting business. News Now NN publishes a local newspaper. The two companies entered into the following transactions.
NN billed OTT for $ of advertising services provided this month on account.
OTT repaired some of NNs equipment this month, for $ on account.
NN collected $ cash from OTT for the advertising services provided in a
NN paid $ cash to OTT for OTT advertising NNs online newspaper this month on OTT's Website.
OTT and NN signed a promissory note, documenting OTT's $ cash loan to NN this month with repayment to occur in six months.
Note: News Now NN records advertising revenue in the Advertising Revenue account.
Required:
Show the journal entries that OTT would record for items ae
Show the journal entries that NN would record for items ae
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