Required Information [The following information applies to the questions displayed below.] Vanishing Games Corporation (VGC) operates a massively multiplayer online game, charging players a monthly subscription of $13. At the start of January 2021, VGC's Income statement accounts had zero balances and its balance sheet account balances were as follows: Cash Accounts Receivable Supplies Equipment Buildings Land $ 2,000,000 187,000 23,900 886,000 463,000 1,660,000 Accounts Payable Deferred Revenue Notes Payable (due 2025) Common Stock Retained Earnings 139,000 88,000 70,000 2,300,000 2,631,900 In addition to the above accounts, VGC's chart of accounts includes the following: Service Revenue. Salaries and Wages Expense, Advertising Expense, and Utilities Expense. The following transactions. occurred during the January month: a. Received $70,000 cash from customers on 1/1 for subscriptions that had already been earned and charged on account in 2020. b. Purchased 10 new computer servers for $31,500 on 1/2; paid $16,500 cash and signed a three-year note for the remainder owed. c. Paid $16,200 for an Internet advertisement run on 1/3. d On January 4, purchased and received $3,900 of supplies on account. e. Received $190,000 cash on 1/5 from customers for service revenue earned In January. f. On January 6, paid $3,900 cash for supplies purchased on January 4. g. On January 7, sold 19,300 subscriptions at $13 each for services provided during January. Half was collected in cash and half was sold on account. h. Paid $400,000 in wages to employees on 1/30 for work done in January. 1. On January 31, received an electric and gas utility bill for $6,010 for January utility services. The bill will be paid in February. 3. Enter the beginning balances shown above in the following T-accounts and post the journal entries. Cash Accounts Receivable Debit Credit Debit Credit Beginning Balance Beginning Balance