Vanishing Games Corporation (VGC) operates a massively multiplayer online game, charging players a monthly subscription of $11. 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 Deferred Revenue Notes Payable (due 2025) Common Stock Retained Earnings $ 1,630,000 208,000 15,400 936,000 516,000 1,600,000 160,000 166,000 150,000 2,700,000 1,729,400 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 January transactions are shown below: a. Received $62,500 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 $41,100 on 1/2; paid $12,200 cash and signed a three-year note for the remainder owed. c. Paid $13,400 for an Internet advertisement that ran today on 1/3. d. On January 4, purchased and received $5,750 of supplies on account. e. Received $210,000 cash on 1/5 from customers for service revenue earned but not previously recorded in January. f. On January 6, paid $5,750 cash for supplies purchased on January 4. g. On January 7, sold 12,300 subscriptions at $11 each for services provided during January. Half was collected in cash and half was sold on account. h. Paid $320,000 in wages to employees on 1/30 for work done in January. i. On January 31, received an electric and gas utility bill for $5,520 for January utility services. The bill will be paid in February.

Vanishing Games Corporation (VGC) operates a massively multiplayer online game, charging players a monthly subscription of $11. At the start of January 2021, VGC's income statement accounts had zero balances and its balance sheet account balances were as follows: In addition to the above accounts, VGC's chart of accounts includes the following: Service Revenue, Salaries and Wages Expense, Advertising Expense, and Utilites Expense. The January transactions are shown below: a. Received $62,500 cash from customers on 1/1 for subscriptions that had alfeady been earned and charged on account in 2020 . b. Purchased 10 new computer servers for $41,100 on 1/2; paid $12,200 cash and signed b three-year note for the remainder owed. c. Poid $13,400 for an internet advertisement that ran today on 1/3. d. On January 4 , purchased and recelved $5,750 of supplies on account. e. Received $210,000 cash on 1/5 from customers for service revenue earned but not previously recorded in January. r. On January 6 , paid $5,750 cash for supplies purchased on January 4. g. On January 7, sold 12,300 subscriptions at $11 each for services provided during January. Half was collected in cash and half was sold on account. h. Paid $320,000 in wages to employees on 1/30 for work done in January. IOn January 31, recelved an electric and gas utlity bill for $5,520 for January utility services, The bill will be paid in February. Each journal entry is posted automatically to the general ledger. General Ledger Account \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Cash } \\ \hline No. & Date, & Debit & Credit & Balance \\ \hline & January 01 & & & 1,630,000 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Accounts Receivable } \\ \hline No. & Date & Debit - & Credit & Balance \\ \hline & January 01 & & & 208,000 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Supplies } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 15,400 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Land } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 1,600,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Buildings } \\ \hline No. & Date & Debit & Credit & Batance \\ \hline & January 01 & & & 516,000 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|r|} \hline \multicolumn{5}{|c|}{ Equipment } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 936,000 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|r|} \hline \multicolumn{5}{|c|}{ Accounts Payable } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 160.000 \\ \hline \end{tabular} \begin{tabular}{|r|r|r|r|r|} \hline \multicolumn{5}{|c|}{ Deferred Revenue } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 166,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Notes Payable (long-term) } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 150,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Common Stock } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 2,700,000 \\ \hline \end{tabular} Rotained Earnings \begin{tabular}{|c|c|c|c|c|} \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 1,729,400 \\ \hline \end{tabular} Vanishing Games Corporation (VGC) operates a massively multiplayer online game, charging players a monthly subscription of $11. At the start of January 2021, VGC's income statement accounts had zero balances and its balance sheet account balances were as follows: In addition to the above accounts, VGC's chart of accounts includes the following: Service Revenue, Salaries and Wages Expense, Advertising Expense, and Utilites Expense. The January transactions are shown below: a. Received $62,500 cash from customers on 1/1 for subscriptions that had alfeady been earned and charged on account in 2020 . b. Purchased 10 new computer servers for $41,100 on 1/2; paid $12,200 cash and signed b three-year note for the remainder owed. c. Poid $13,400 for an internet advertisement that ran today on 1/3. d. On January 4 , purchased and recelved $5,750 of supplies on account. e. Received $210,000 cash on 1/5 from customers for service revenue earned but not previously recorded in January. r. On January 6 , paid $5,750 cash for supplies purchased on January 4. g. On January 7, sold 12,300 subscriptions at $11 each for services provided during January. Half was collected in cash and half was sold on account. h. Paid $320,000 in wages to employees on 1/30 for work done in January. IOn January 31, recelved an electric and gas utlity bill for $5,520 for January utility services, The bill will be paid in February. Each journal entry is posted automatically to the general ledger. General Ledger Account \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Cash } \\ \hline No. & Date, & Debit & Credit & Balance \\ \hline & January 01 & & & 1,630,000 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Accounts Receivable } \\ \hline No. & Date & Debit - & Credit & Balance \\ \hline & January 01 & & & 208,000 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Supplies } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 15,400 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Land } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 1,600,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Buildings } \\ \hline No. & Date & Debit & Credit & Batance \\ \hline & January 01 & & & 516,000 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|r|} \hline \multicolumn{5}{|c|}{ Equipment } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 936,000 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|r|} \hline \multicolumn{5}{|c|}{ Accounts Payable } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 160.000 \\ \hline \end{tabular} \begin{tabular}{|r|r|r|r|r|} \hline \multicolumn{5}{|c|}{ Deferred Revenue } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 166,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Notes Payable (long-term) } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 150,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Common Stock } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 2,700,000 \\ \hline \end{tabular} Rotained Earnings \begin{tabular}{|c|c|c|c|c|} \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 1,729,400 \\ \hline \end{tabular}