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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 $105,500 in salary for work done In January. Answer from Dugg's standpoint b. At the beginning of January, Turner Construction Company paid $10,800 in rent for February-April c. McGraw-Hill Education-publisher of this textbook-used $7,450 worth of electricity and natural gas in January, which it has not paid or recorded. d. Pooler Company received and paid in January a $4,200 invoice from a consulting firm for services received in January. e. The campus bookstore received consulting services at a cost of $5,150. The terms indicate that payment is due within 30 days of the consultation. f. Schergevitch Incorporated had its delivery van repaired in January for $390 and charged the amount on account Amount

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