Vanishing Games Corporation (VGC) operates a massively multiplayer online game, charging players a monthly subscription of $14. 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 $1,730,000 188,000 15,200 921,000 508,000 1,790,000 153,000 Notes Payable (due 2025) Common Stock Retained Earnings 163,000 124,000 2,900,000 1,812,200 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 $66,750 cash from customers on 1/1 for subscriptions that had already been earned in 2017. b. Purchased 10 new computer servers for $36,400 on 1/2; paid $15,700 cash and signed a three-year note for the remainder owed. c. Paid $11,700 for an Internet advertisement run on 1/3. d. On January 4, purchased and received $5,400 of supplies on account. e. Received $210,000 cash on 1/5 from customers for service revenue earned in January. f. Paid $5,400 cash to a supplier on January 6. g. On January 7, sold 11,700 subscriptions at $14 each for services provided during January. Half was collected in cash and half was sold on account. h. Paid $350,000 in wages to employees on 1/30 for work done in January. 1. On January 31, received an electric and gas utility bill for $6,210 for January utility services. The bill will be paid in February. 2. Prepare journal entries for the January transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction let Journal entry worksheet 2 3 4 5 878 9 Record the $66,750 cash received from customers on 1/1 for subscriptions that had already been earned in 2017. Note: Enter debits before credits. Transaction a General Journal Debit Credit Record entry Clear entry View general journal