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Under accrual basis accounting, expenses are recognized when incurred, which means the activity giving rise to the expense has occurred. Assume the following transactions

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Under accrual basis accounting, expenses are recognized when incurred, which means the activity giving rise to the expense has occurred. Assume the following transactions occurred in January Required: For each of the transactions, if an expense is to be recognized in January, indicate the amount Activity a Dugg paid its computer service technicians $97,000 in salary for work done in January Answer from Dugg's standpoint b. At the beginning of January, Tumer Construction Company paid $4,050 in rent for February Apri e McGraw-Hill Education-publisher of this textbook-used $3,250 worth of electricity and natural gas in January, which it has not paid or recorded d. Pooler Company received and paid in January a $2.700 invoice from a consulting firm for services received in January e. The campus bookstore received consulting services at a cost of $0.400. The terms indicate that payment is due within 30 days of the consultation f. Schergevitch Incorporated had es delivery van repaired in January for $400 and charged the amount on account Amount

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