Answer:
Cash 57,750 debit
Account receivables 57,750 credit
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Equipment 41,500 debit
cash 11,500 credit
note payable 30,000 credit
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Advertising Expense 14,300 debit
cash 14,300 credit
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supplies 5,300 debit
account payables 5,300 credit
------------------------------------------
cash 150,000 debit
service revenue 150,000 credit
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account payables 5,300 debit
cash 5,300 credit
---------------------------------------------
cash 129,350 debit
account receivables 129,350 debit
services revenue 258,700 credit
---------------------------------------------
wages expense 380,000 debit
cash 380,000 credit
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utilities expense 6,260 debit
account payable 6,260 credit
Explanation:
To make thge jounral entries we must follow the basic principles:
debit = credit
and one value per account
Is important to comment that A state the income has been earned so we deduct from account recievables
then. we again receive cash for service earned
In none ofthe case we are doing the recognition of hte deferred revenue so this, stays untouched.
G) 19,900 x $13 each = $258,700
half cash-half credit : 258,700 / 2 = 129,350
