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- On 9/1, Bugsy Pest Control receives $12,000 in advance to provide provide pest control services to a client over the next 4 months. When the business transaction is recorded on 9/1, what amount, if any, would be recorded for Service Revenue? Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24,123, you would only input: 24123 ASUS f5 E3 f6 [X f8 f9 团 f10 f11 %24 4 & 5 7 8. Y U F G J K 因 6 近1. Purchase equipment in exchange for cash of $20,400. 2. Provide services to customers and receive cash of $4,900. 3. Pay the current month's rent of $1,000. 4. Purchase office supplies on account for $2,000. 5. Pay employee salaries of $1,100 for the current month. Required: Record the transactions. Craft uses the following accounts: Cash, Supplies, Equipment, Accounts Payable, Service Revenue, Rent Expense, and Salaries Expense. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 Transaction 5 3 Note: Enter debits before credits. Pay employee salaries of $1,100 for the current month. Record entry 4 5 General Journal Clear entry Debit Credit View general journalAggie Pool Guys, Inc. began operations on September 1, 2019 with an investment of $30,000 cash into the business. During the month of September, Aggie completed the following additional transactions: Sept 2 Sold a customer pool equipment on account, $2,500. Sept 4 Purchased supplies on credit for $1,000. Sept 8 Repaired a customer’s pool and collected the fee of $1,800. Sept 13 Received $500 from customers for payment on their account. Sept 15 Paid employee wages of $800. Sept 18 Repaired a customer’s pool and billed, but did not collect $2,200. Sept 21 Collected $1,000 from a customer for a job to be performed in October. What is the balance in the Accounts Receivable account on September 30, 2019? (hint: Use T account) A. $8,000 B. $4,200 C. $3,200 D. $7,000 E. $5,200 Do not give answer in image formate
- On July 8, Azure Corporation enters into an agreement with one of its customers, Madsen, Inc. to provide them with 4,500 units at a cost of $500 per unit. Madsen sends a cash deposit of $225,000 on the same day. Azure sends the first 2,700 units on August 31, with an invoice for $675,000 due September 15. The remaining 1,800 units are delivered on October 15, along with an invoice for the remaining amount of the total $2,250,000 purchase price, due October 31. Madsen made all payments on the invoice due dates. Assume that Azure Corporation had no uncertainties about its own ability to meet the terms of the contract or about Madsen, Inc.'s ability and willingness to pay. Prepare the journal entries to record the events (leaving out the accounting for Azure's costs). Date July 8 August 31 September 15 October 15 October 31 Account To record the deposit. To record initial delivery of units. To collect cash on account. To record delivery of remaining units. To collect cash on account. <<…Terrapin Company engages in the following external transactions for November.1. Purchase equipment in exchange for cash of $23,400.2. Provide services to customers and receive cash of $6,800.3. Pay the current month’s rent of $1,300.4. Purchase office supplies on account for $1,000.5. Pay employee salaries of $2,100 for the current month.Required:Record the transactions. Terrapin uses the following accounts: Cash, Supplies, Equipment, Accounts Payable, Service Revenue, Rent Expense, and Salaries Expense.For the month of September 2021, BW Travel and Tours had the following transaction. sep1- Brayson invested $15,000 cash and equipment valued at $12,500 into the business. Whats the account title and ecp
- S The following transactions were completed by the company: a. The company completed consulting work for a client and immediately collected $7,200 cash. b. The company completed commission work for a client and sent a bill for $5,700 to be received within 30 days. c. The company paid an assistant $2,250 cash as wages for the period. d. The company collected $2,850 cash as a partial payment for the amount owed by the client in transaction b e. The company paid $1,040 cash for this period's cleaning services. Required: Enter the impact of each transaction on individual items of the accounting equation. Note: Enter decreases to account balances with a minus sign. Transactions Number a. b. Balance after a and b C. Balance after c Balance after d e. Balance after e Cash Assets + + + + + + + + + Accounts Receivable = Liabilities Accounts Payable = = = = # 1111 + + + + + + + + + + Common Stock II Equity Dividends + + + + + + + + Revenue 111 11 ExpensesThe following transactions were completed by the company. a. The company completed consulting work for a client and immediately collected $6,900 cash. b. The company completed commission work for a client and sent a bill for $5,400 to be received within 30 days. c. The company paid an assistant $2,100 cash as wages for the period. d. The company collected $2,700 cash as a partial payment for the amount owed by the client in transaction b. e. The company paid $980 cash for this period's cleaning services. Required: Enter the impact of each transaction on individual items of the accounting equation. Note: Enter decreases to account balances with a minus sign. Transactions Number a. b. Balance after a and b C. Balance after c d. Balance after d e. Balance after e Cash $ Assets $ 6,900 + 6,900 + 6,900 + + + + + 6,900 + 980 + 7,880 + Accounts Receivable $ 5,400 $ 5,400 = 5,400 5,400 = Liabilities + Accounts Payable 5,400 = = = = = = = = = $ 0 0 0 0 + + + + + + + + + + Owner, Capital $ 0 0 0…Reliable Corporation provides computer consulting services to the local community and keeps its accounting records using cash- basis accounting. For the current year, cash was received from customers, $42,000, and cash salaries to employees were paid, $23,000. At the beginning of the year, customers owe Reliable $1,200. By the end of the year, customers owe $6,400. At the beginning of the year, Reliable owes employee salaries of $5,400. At the end of the year, Reliable owes employee salaries of $3,200. Determine cash-basis net income and accrual-basis net income for the current year. Cash-basis net income Accrual-basis net income
- On January 15, Ross Furniture, Inc., accepts a $5,000, 180-day, 10 percent note from a customer at the time of a product sale. Prepare the January 15 entry for Ross Furniture by selecting the account names from the drop-down menus and entering the dollam amounts in the debit or credit columns. View transaction list Journal entry worksheet 1. On January 15, Ross Furniture, Inc., accepts a $5,000, 180-day, 10 percent note from a customer at the time of a product sale.The following transactions occurred for the Microchip Company. 1. On October 1, 2024, Microchip lent $84,000 to another company. A note was signed with principal and 10% interest to be paid on September 30, 2025. 2. On November 1, 2024, the company paid its landlord $7.500 representing rent for the months of November through January. Prepaid rent was debited at the time of payment. 3. On August 1, 2024, collected $13,500 in advance rent from another company that is renting a portion of Microchip's factory. The $13,500 represents one year's rent and the entire amount was credited to deferred rent revenue at the time cash was received. 4. Depreciation on office equipment is $5,000 for the year. 5. Vacation pay for the year that had been earned by employees but not paid to them or recorded is $8,500. The company records vacation pay as salaries expense. 5. Microchip began the year with $2,500 in its asset account, supplies. During the year, $7,000 in supplies were purchased and debited to…can someone help me with journal entry with the following entries? Prepare journal entries for the following: Beginning Balance in Accounts Receivable: 12,000 Beginning Balance in Allowance: credit of 1,000 On March 31, customers were billed $25,000. On June 15, cash collections from transaction (a) totaled $20,000. On 10/31, a customer balance of $1500 from a prior year was written off. On 12/15, a customer paid an old balance of $900 that had been written off in a previous year. On 12/31, bad debts were estimated at 2% of credit sales.