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Record each of the following transactions in general journal form and then show the effect of the transaction in a horizontal statements model. The first

Record each of the following 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.

Account title debit credit
accounts receviable service revenue 8200 8200

Asstes = liab. + equity Rev. - Exp. = Net Inc. Cash Flow
8,200 8,200 8,200 N/A 8,200 N/A

a. performed $8,200 of services on account.

b. collected $5,600 cash on accounts recevible.

c. paid $1,450 cash in advnce for an insurance policy.

d. paid $400 on accounts payable

e. recorded the adjusting entry to recognize $300 of insurane expense

f. recorded the adjusting entry to recognize $200 accured intrest revenue.

g. received $1,600 cash for services to be performed at a later date.

h. purchased land for $9,000 cash.

i. purchased supplies for $350 cash.

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