Vanishing Games Corporation $($VGC$)$ operates a massively multiplayer online game, charging players a monthly subscription of $$12.$ At the start of January $2021,$ VGC$\text{'}$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

$$2,260,000$

$165,000$

$16,900$

$879,000$

$481,000$

$2,150,000$

$195,000$

$114,000$

$113,000$

$2,400,000$

$3,129,900$

In addition to the above accounts, VGC$\text{'}$s chart of accounts includes the following: Service Revenue, Salaries and Wages Expense, Advertising Expense, and Utilities Expense.

The January transactions are shown below:

a$.$ Received $$72,250$ cash from customers on $\frac{1}{1}$ for subscriptions that had already been earned and charged on account in $2020.$

b$.$ Purchased $10$ new computer servers for $$36,100$ on $\frac{1}{2}$; paid $$16,300$ cash and signed a three$-$year note for the remainder owed.

c$.$ Paid $$11,100$ for an Internet advertisement that ran today on $\frac{1}{3}.$

d$.$ On January $4,$ purchased and received $$5,700$ of supplies on account.

e$.$ Received $$245,000$ cash on $\frac{1}{5}$ from customers for service revenue earned but not previously recorded in January.

f On January $6,$ paid $$5,700$ cash for supplies purchased on January $4.$

g$.$ On January $7,$ sold $12,600$ subscriptions at $$12$ each for services provided during January. Half was collected in cash and half was sold on account.

h$.$ Paid $$375,000$ in wages to employees on $\frac{1}{30}$ for work done in January.

i$.$ On January $31,$ received an electric and gas utility bill for $$5,210$ for January utility services. The bill will be paid in February.

Requirement

General

Journal

General

Trial Balance

Income

Statement

Stmt of

Retalned

Balance Sheet

Prepare the journal entries to record the transactions $($a$)$ through $($i$).($If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.$)$

Journal entry worksheet

$1$

$2$

$3$

$4$

$5$

$6$

$7$

$8$

$9$

Received $$72,250$ cash from customers on $\frac{1}{1}$ for subscriptions that had already been earned and charged on account in $2020.$ Record the transaction.

Note: Enter debits before credits.

Please write journal entries, generalledger, trial balance, income statement, statement of retained earnings, balance sheet and analysis.