Vanishing Games Corporation (VGC) operates a massively multiplayer online game, charging players a monthly subscription of $13. 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 Buildings Land Accounts Payable $ 1,600,000 174,000 15,100 930,000 510,000 2,050,000 Deferred Revenue Notes Payable (due 2025) Common Stock Retained Earnings 113,000 74,000 94,000 2,500,000 2,498,100 In a "on to the above accounts, VGC's chart of accounts includes the following: Service Revenue. Salarie: id Wages Expense. Advert Expense, and Utilities Expense. The January transactions are shown below: a. Received $57,750 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 $41,500 on 1/2: paid $11,500 cash and signed a three-year note for the remainder ov c. Paid $14,300 for an Internet advertisement run on 1/3 d. On January 4, purchased and received $5,300 of supplies on account. e. Received $150,000 cash on 1/5 from customers for service revenue earned in January f On January 6, paid $5,300 cash for supplies purchased on January 4 Search < Prev 2 of 2 Next hp Advertising Expense, and Utilities Expense. The January transactions are shown below: a. Received $57,750 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 $41,500 on 1/2; paid $11,500 cash and signed a three-year note for the remainder owed. c. Paid $14,300 for an Internet advertisement run on 1/3. d. On January 4, purchased and received $5,300 of supplies on account. e. Received $150,000 cash on 1/5 from customers for service revenue earned in January. f. On January 6, paid $5,300 cash for supplies purchased on January 4. a. On January 7, sold 19.900 subscriptions at $13 each for services provided during January. Half was collected in cash and he as old on account h. Paid $380,000 in wages to employees on 1/30 for work done in January. On January 31, received an electric and gas utility bill for $6,260 for January utility services. The bill will be paid in February. Requirement Geral Journal General Ledger Trial Balance Income Statement Stmt of Retained Earnings Balance Sheet Analysis 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.) View transaction list View transaction list Journal entry worksheet < 1 2 3 4 5 6 7 8 9 Received $57,750 cash from customers on 1/1 for subscriptions that had already been earned and charged on account in 2020. Record the transaction. Note: Enter debits before credits. Date ary 01 General Journal Debit Credit Record entry Clear entry View general journal Each journal entry is posted automatically to the general ledger. General Ledger Account Cash Accounts Receivable No. Date January 01 Debit Credit Balance No. 1,600,000 Date January 01 Debit Credit Balance 174,000 Supplies Land No. Date January 01 Debit Credit Balance No. 15.100 Date January 01 Debit Credit Balance 2,050,000 Buildings Equipment No. Debit Credit Balance No. Date Debit Credit Balance January 01 510,000 January 01 930,000 Accounts Payable Deferred Revenue No. Date January 01 Debit Credit Balance No. Date Debit Credit 113,000 Balance 74.000 Notes Payable (long-term) No. Date Debit January 01 Common Stock Credit Balance No. Date Debit Credit Balance 94,000 January 01 2.500.000 Retained Earnings No. Date Debit January 01 Credit Balance 2.498,100 77 The ending balance values from the General Ledger tab flows through to the Trial Balance below. VANISHING GAMES CORPORATION Trial Balance Cash A unts Receivable Supp Land Buildings Equipment Accounts Payable Deferred Revenue Notes Payable (long-term) Common Stock Retained Earnings Total January 31, 2021 Account Title Debit S 1,600,000 174,000) Cre 15,10 2,050,000 510,000 930,000 113,000 74,000 94,000 2,500,000 2,498,100 S 5,279,100 $ 5.279,100 k amount of the net income or loss for the period. VANISHING GAMES CORPORATION Income Statement For the Month Ended January 31, 2021 EA $ 0 $ SA < Trial Balance 0 0 0 Stmt VANISHING GAMES CORPORATION Statement of Retained Earnings For the Month Ended January 31, 2021 ained Earnings, January 1, 2021 Retained Earnings, January 31, 2021 VANISHING GAMES CORPORATION Balance Sheet At January 31, 2021 S $ 0 0 0 0 0 alculate net profit margin, expressed as a percent. (Round your answer to 1 decimal place.) Net Profit Margin 96 Balance Sheet