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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

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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 $12. At the start of January 2018, VGC income statement accounts had zero balances and its balance sheet account balances were as follows: Can Accounts Receivable Supplies Taipent baldin Land Accounts Payable Deferred Reven Notes Payable (due 2025) Common stock Retained Earnings $1,500,000 245.000 17.800 922.000 435,000 1.250.000 137.000 240.000 81.000 2.800.000 1,101,00 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 $65,250 cash from customers on 11 for subscriptions that had already been earned in 2017. b. Purchased 10 new computer servers for $34.600 on 12: paid $14.400 cash and signed a three-year note for the remainder owed. c. Paid $12,600 for an internet advertisement run on 13. On January 4. purchased and received $3.300 of supplies on account e. Received $215,000 cash on V5 from customers for service revenue eamed in January Paid $3,300 cash to a supplier on January 6. g On January 7, sold 19.200 subscriptions at $12 each for services provided during January Hall was collected in cash and half was sold on account. h. Pald $420,000 in wages to employees on 130 for work done in January On January 31, received an electric and gas utility bill for $5.250 for January utility services. The bill will be paid in February 7. Prepare a classified Balance Sheet at January 31, 2018, using your response to part 6. VANISHING GAMES CORPORATION Balance Sheet

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