Question
Short answer journal entries! 1) Katy Williams is the manager of Blue Light Arcade. The company provides entertainment for parties and special events. a. Blue
Short answer journal entries!
1) Katy Williams is the manager of Blue Light Arcade. The company provides entertainment for parties and special events.
a. | Blue Light Arcade received $58 cash on account for a birthday party held two months ago. |
b. | Agreed to hire a new employee at a monthly salary of $3,250. The employee starts work next month. |
c. | Paid $2,250 for a table top hockey game purchased last month on account. |
d. | Repaid a $5,250 bank loan that had been outstanding for six months. (Ignore interest.) |
e. | The company purchased an air hockey table for $3,200, paying $1,500 cash and signing a short-term note for $1,700. |
Prepare journal entries for the above transactions relating to the year ended December 31. (If no entry is required for a transaction/event select "No Journal Entry Required" in the first account field.) A) Blue Light Arcade received $58 cash on account for a birthday party held two months ago. Record the transaction. B) Agreed to hire a new employee at a monthly salary of $3,250. The employee starts work next month. Record the transaction. C) Paid $2,250 for a table top hockey game purchased last month on account. Record the transaction. D) Repaid a $5,250 bank loan that had been outstanding for six months. (Ignore interest.) Record the transaction. E) The company purchased an air hockey table for $3,200, paying $1,500 cash and signing a short-term note for $1,700. Record the transaction. |
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