UNTUCTIONS Llurred during the January month a. Received $68,500 cash from customers on 1/1 for subscriptions that had already been earned in 2017 b. Purchased 10 new computer servers for $30.800 on 12; paid $19.900 cash and signed a three-year note for the remainder owed. c. Paid $17100 for an Internet advertisement run on 13. d. On January 4, purchased and received $3,350 of supplies on account. e. Received $205.000 cash on 15 from customers for service revenue earned in January . Pald $3.350 cash to a supplier on January 6. g. On January 7. sold 19,400 subscriptions at $10 each for services provided during January. Half was collected cash and half was sold on account n. Pald $360,000 in wages to employees on 130 for work done in January On January 31, received an electric and gas utility bill for $6.180 for January utility services. The bill will be February (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 $10. At the start of January 2018, VGC's income statement accounts had zero balances and its balance sheet account balances were as follows: Cash Accounts Receivable Supplies Equipment Buildings Land Accounts Payable Deferred Revenue Notes Payable (due 2025) Common Stock Retained Earnings $1,810,000 224,000 23,400 916,000 446,000 1,950,000 120,000 91,800 159,000 2,600,000 2,399,400 In addition to the above accounts. VGC's chart of accounts includes the following Service Revenue Salaries and was Expense. Advertising Expense, and Utilities Expense. The following transactions occurred during the January month Vanishing Games Corporation (VGC) operates a massively multiplayer online game, charging players a monthly subscription of $10. At the start of January 2018, VGC's income statement accounts had zero balances and its balance sheet account balances were as follows: Cash Accounts Receivable Supplies Equipment Buildings Land Accounts Payable Deferred Revenue Notes Payable (due 2025) Common Stock Retained Earnings $1,810,000 224,000 23,400 916,000 446,000 1,950,000 120,000 91,000 159.000 2,600,000 2,399,480 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 $68.500 cash from customers on 11 for subscriptions that had already been earned in 2017 b. Purchased 10 new computer servers for $30 800 on 12. paid $19.900 cash and signed a three-year note for the remainder owed C Paid $17.100 for an internet advertisement run on 13 d. On January 4, purchased and received $3.350 of suppiles on account e Received S205.000 cash on 15 from customers for service revenue eamed in January Paid $3.350 cash to a supplier on January 6 On January 7 sold 19.400 Subscriptions at S10 each for services provided during January Half was colected in cash and half was sold on account Palo 5360.000 ages to employees 30 o coreanuary January 31eceivedect and gas for 56 80 o u t once the be paid (if no entry is required for a transaction event select "No Journal Entry 2. Prese n tes Required in the first account field.)
