EA1-R2 RECORD JOURNAL ENTRIESIn this exercise, you will record journal entries in Excel. The four transactions you use, all ofwhich took place during 2026, are as follows:• August 2: Purchased twelve months of insurance coverage in advance for $3,600• August 9: Billed clients $6,000 for services rendered• August 21: Received $4,200 from clients for previously billed services• August 31: Recorded an adjusting journal entry for the portion of insurance coveragefrom the August 2 purchase that has now expired1. Create a Blank Workbook template and save the file in your Chapter 01 folder as:EA1-R2-JournalEntries
EA1-R2 RECORD JOURNAL ENTRIESIn this exercise, you will record journal entries in Excel. The four transactions you use, all ofwhich took place during 2026, are as follows:• August 2: Purchased twelve months of insurance coverage in advance for $3,600• August 9: Billed clients $6,000 for services rendered• August 21: Received $4,200 from clients for previously billed services• August 31: Recorded an adjusting journal entry for the portion of insurance coveragefrom the August 2 purchase that has now expired1. Create a Blank Workbook template and save the file in your Chapter 01 folder as:EA1-R2-JournalEntries
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
EA1-R2 RECORD JOURNAL ENTRIES
In this exercise, you will record journal entries in Excel. The four transactions you use, all of
which took place during 2026, are as follows:
• August 2: Purchased twelve months of insurance coverage in advance for $3,600
• August 9: Billed clients $6,000 for services rendered
• August 21: Received $4,200 from clients for previously billed services
• August 31: Recorded anadjusting journal entry for the portion of insurance coverage
from the August 2 purchase that has now expired
1. Create a Blank Workbook template and save the file in your Chapter 01 folder as:
EA1-R2-JournalEntries
In this exercise, you will record journal entries in Excel. The four transactions you use, all of
which took place during 2026, are as follows:
• August 2: Purchased twelve months of insurance coverage in advance for $3,600
• August 9: Billed clients $6,000 for services rendered
• August 21: Received $4,200 from clients for previously billed services
• August 31: Recorded an
from the August 2 purchase that has now expired
1. Create a Blank Workbook template and save the file in your Chapter 01 folder as:
EA1-R2-JournalEntries
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