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Please help me understand how to find the right steps. TYIA. On January 1, Pulse Recording Studio (PRS) had the following account balances. The following
Please help me understand how to find the right steps. TYIA.
On January 1, Pulse Recording Studio (PRS) had the following account balances. The following transactions occurred during January. a. Received $2,420 cash on 1/1 from customers on account for recording services completed in December. b. Wrote checks on 1/2 totaling $4,370 for amounts owed on account at the end of December. c. Purchased and received supplies on account on 1/3, at a total cost of $200. d. Completed $3,900 of recording sessions on 1/4 that customers had paid for in advance in December. e. Received $4,750 cash on 1/5 from customers for recording sessions started and completed in January. f Wrote a check on 1/6 for $4,000 for an amount owed on account. g. Converted $1,010 of cash equivalents into cash on 1/7. h. On 1/15, completed EFTs for $1,400 for employees' salaries and wages for the first half of January. i. Received $2,940 cash on 1/31 from customers for recording sessions to start in February. Prepare the journal entries to record transactions (a) through (n). Then prepare the necessary adjusting entries (o) correctly report net income for the period. (If no entry is required for a transaction/event, select "No journal entry account field.) Journal entry worksheet Received $2,420 cash on 1/1 from customers on account for recording services completed in December. Record the transaction. Note: Enter debits before credits. Prepare the journal entries to record transactions (a) through (n). Then prepare the necessary adjusting entries ( c correctly report net income for the period. (If no entry is required for a transaction/event, select "No journal entry account field.) Journal entry worksheet 567821> Wrote checks on 1/2 totaling $4,370 for amounts owed on account at the end of December. Record the transaction. Note: Enter debits before creditsStep by Step Solution
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