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Record Journal Entries: Top of the World, Inc. provides rock climbing sessions to customers. The following is a list of transactions that occurred in May
Record Journal Entries: Top of the World, Inc. provides rock climbing sessions to customers. The following is a list of transactions that occurred in May 2021. a. 5/2/21: Provided rock climbing sessions to customers worth $8,400. Of the $8,400 in sessions provided, $1,000 worth was paid for by customers using cash. The remaining $7,400 was purchased by customers on account. b. 5/5/21: Purchased equipment on account for $2,000. 5/8/21: Paid $800 in cash for radio and newspaper advertising to appear in May 2021. d. 5/13/21: Paid $4,900 in cash for employee wages for May 2021. e. 5/19/21: Received $6,000 in cash from customers as payment on their accounts receivable. 5/22/21: Paid creditors from transaction b) $2,000 in cash. g. 5/25/21: Obtained a loan from the bank by signing a note for $20,000. C. f. cord all of the above transactions using journal entries. Assume Top of the World uses the following accounts: Cash, counts Receivable (A/R), Equipment, Accounts Payable (A/P), Notes Payable (N/P), Service Revenue, Wages Expense, Advertising Expense. You must show proper journal entry formatting, and also include the date and a brief scription of the entry to earn full credit
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