f. Cash (5,300) = Accounts Payable (5,300
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter6: Cash And Receivables
Section: Chapter Questions
Problem 11RE: On December 1 of the current year, Jordan Inc. assigns 125,000 of its accounts receivable to...
Related questions
Question
How do I fill in correctly the
A
B
G
![a.
a
b
b
C.
Cash
d. Supplies
e.
Cash
f. Cash
g.
g.
h. Cash
i. Cash
Assets
(14,300) =
5,300 Accounts Payable
150,000 =
(5,300) = Accounts Payable
380,000 =
6,260 =
Liabilities
+
+
+
+ Advertising Expense
5,300 +
+ Service Revenue
(5,300) +
+
Stockholders' Equity
+
+ Salaries and Wages Expense
+ Utilities Expense
14,300
150,000
380,000
6,260](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F09179a8e-98d4-4669-ad99-5e5bc53fdaac%2Fa497b323-b6f3-4217-8e64-d185063670df%2Fcm0a36b_processed.png&w=3840&q=75)
Transcribed Image Text:a.
a
b
b
C.
Cash
d. Supplies
e.
Cash
f. Cash
g.
g.
h. Cash
i. Cash
Assets
(14,300) =
5,300 Accounts Payable
150,000 =
(5,300) = Accounts Payable
380,000 =
6,260 =
Liabilities
+
+
+
+ Advertising Expense
5,300 +
+ Service Revenue
(5,300) +
+
Stockholders' Equity
+
+ Salaries and Wages Expense
+ Utilities Expense
14,300
150,000
380,000
6,260
![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.
g. On January 7, sold 19,900 subscriptions at $13 each for services provided during January. Half was collected in cash
and half was sold on account.
h. Paid $380,000 in wages to employees on 1/30 for work done in January.
i. On January 31, received an electric and gas utility bill for $6,260 for January utility services. The bill will be paid in
February.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F09179a8e-98d4-4669-ad99-5e5bc53fdaac%2Fa497b323-b6f3-4217-8e64-d185063670df%2Fvl19oe5_processed.png&w=3840&q=75)
Transcribed Image Text: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.
g. On January 7, sold 19,900 subscriptions at $13 each for services provided during January. Half was collected in cash
and half was sold on account.
h. Paid $380,000 in wages to employees on 1/30 for work done in January.
i. On January 31, received an electric and gas utility bill for $6,260 for January utility services. The bill will be paid in
February.
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