Vanishing Games Corporation (VGC) operates a massively multiplayer online game, charging players a monthly subscription of $10. At the start of January 2021, VGC's income statement accounts had zero balances and its balance sheet account balances were as follows: Cash Accounts Receivable Supplies Equipment $ 2,060,000 202,000 19,200 Buildings Land Accounts Payable Deferred Revenue Notes Payable (due 2025) Common Stock Retained Earnings 905,000 518,000 1,100,000 143,000 110,000 69,000 2,000,000 2,482,200 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 $65,000 cash from customers on 1/1 for subscriptions that had already been earned and charged on account in 2020. b. Purchased 10 new computer servers for $37,900 on 1/2; paid $13,300 cash and signed a three-year note for the remainder owed. c. Paid $17,400 for an Internet advertisement run on 1/3. d. On January 4, purchased and received $3,200 of supplies on account. e. Received $175,000 cash on 1/5 from customers for service revenue earned in January. f. On January 6, paid $3,200 cash for supplies purchased on January 4. g. On January 7, sold 18,700 subscriptions at $10 each for services provided during January. Half was collected in cash and half was sold on account. h. Paid $325,000 in wages to employees on 1/30 for work done in January. i. On January 31, received an electric and gas utility bill for $5,700 for January utility services. The bill will be paid in February. Beginning Balance (a) (e) (g) Cash Accounts Receivable Debit 2,060,000 65,000 13,300 (b) Credit Debit Credit Beginning Balance 202,000 65,000 (a) 175,000 93,500 17,400 (c) 325,000 (h) (f) Ending Balance 137,000 Ending Balance 2,037,800 Beginning Balance (d) Supplies Credit Debit 19,200 3,200 Ending Balance 22,400 Debit 518,000 Beginning Balance Equipment Credit Debit Beginning Balance (b) 905,000 37,900 Ending Balance 942,900 Buildings Credit Debit Beginning Balance 1,100,000 Ending Balance 1,100,000 Ending Balance 518,000 Debit Beginning Balance (f) Ending Balance Debit Beginning Balance Ending Balance Land Credit Accounts Payable Deferred Revenue Credit Debit 143,000 Beginning Balance Credit 110,000 3,200 5,700 3,200 (d) (i) 148,700 Notes Payable (long-term) Ending Balance 110,000 Common Stock Credit Debit Beginning Balance Credit 2,000,000 ( 65,000 (a) 37,900 (b) 102,900 Ending Balance 2,000,000 Retained Earnings Service Revenue Debit Credit Debit Credit 2,482,000 Beginning Balance 175,000 Beginning Balance Ending Balance 2,482,000 Salaries and Wages Expense Debit Credit Beginning Balance (h) 325,000 Ending Balance 325,000 Utilities Expense Debit Credit Beginning Balance (i) 5,700 Ending Balance 5,700 Ending Balance 175,000 Advertising Expense Debit Credit Beginning Balance (c) 17,400 Ending Balance 17,400