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Rowland & Sons Air Transport Service, Inc. has been in operation for three years. The following transactions occurred in February: Feb. 1 Paid $415 for
Rowland & Sons Air Transport Service, Inc. has been in operation for three years. The following transactions occurred in February: Feb. 1 Paid $415 for rent of hangar space in February Feb. 4 Received customer payment of $1,760 to ship several items to Philadelphia next month. Feb. 7 Flew cargo from Denver to Dallas, the customer paid in full ($1,130 cash). Feb. 10 Paid pilots $2,250 in wages for flying in February Feb. 14 Paid $134 for an advertisement run in the local paper on February 14. Feb. 18 Flew cargo for two customers from Dallas to Albuquerque for $2,335: one customer paid $775 cash and the other asked to be billed $1,560. Feb. 25 Purchased on account $1.680 in supplies for future use on the planes. Required: 1. Prepare accrual basis journal entries for each transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet
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