qusstion 2

ces Under accrual basis accounting, expenses are recognized when incurred. The following transactions occurred in January: Required: For each of the transactions, if an expense is to be recognized in January, indicate the amount. (Enter your answers in dollars but not in millions.) Activity Amount a. AMZ Wealth Management paid its salespersons $3,300 in commissions related to December sales of financial advisory services. Answer from AMZ Wealth Management's standpoint $ b. On January 31, AMZ Wealth Management determined that it will pay its salespersons $4,250 in commissions related to January sales. The payment will be made in early February. Answer from AMZ Wealth Management's standpoint. $ c. The city of Omaha hired RM, Inc., to provide trash collection services beginning January 1. The city paid $15.6 million for the entire year. Answer from the city's standpoint. $ d. The University of Florida paid $24,300 in advance for refundable airline tickets to fly the baseball team to a tournament in California. The first game will be played in March. Answer from the university's standpoint. $ e. A Houston Community College employee worked eight hours, at $14 per hour. on January 31; payday is not until February 3. Answer from the college's point of $ view. Wang Company paid $8,880 for a fire insurance policy on January 1. The policy covers 12 months beginning on January 1. Answer from Wang's point of $ view g. Ziegler Company, a farm equipment company, received a phone bill for $630 of January calls. The bill has not been paid to date. $ 3,300 4,250 437,250 (24,300) 0 0 0