Performed $26,100 of services on account. Collected $23,500 cash on accounts receivable. Paid $5,600 cash in advance for an insurance policy. Paid $920 on accounts payable. Recorded the adjusting entry to recognize $3,000 of insurance expense. Received $6,400 cash for services to be performed at a later date. Purchased land for $1,290 cash. Purchased supplies for $1,200 cash. Required Record each of the above transactions in general journal form and then show the effect of the transaction in a horizontal statements model. The first transaction is shown as an example. Transaction Account Titles Debit Credit a Accounts receivable 26,100 Service revenue 26,100

Journal Statements Model Record each of the above transactions in general journal form. (If no entry is required for a transaction/event, se required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 6 7 Collected $23,500 cash on accounts receivable. Note: Enter debits before credits. Transaction General Journal Debit Credit No journal entry required Accounts payable Accounts receivable Record en Cash View general journal Horizontal General Journal Statements Model Show the effect of the transaction in a horizontal statements model. The first transaction is shown as an example. (In the Statement OA to designate operating activity, IA for investment activity, FA for financing activity, and NC for net change in cash. Enter any dec with a minus sign.) Transaction Assets = Liabilities + Equity 26,100 Revenue - Expenses = Net Income Statement of Cash Flows 26,100 - 26,100 26,100 = + + + + Total 26,100 = 0 + 26,100 26,100 26,100 OP