Vanishing Games Corporation (VGC) operates a massively multiplayer online game, charging players a monthly subscription of $10. 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 $ 1,810,000 224,000 23,400 916,000 446,000 1,950,000 120,000 91,000 159,000 2,600,000 2,399,400 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 following transactions occurred during the January month: a. Received $68,500 cash from customers on 1/1 for subscriptions that had already been earned and charged on account in 2020. Show Transcribed Text b. Purchased 10 new computer servers for $30,800 on 1/2; paid $19,900 cash and signed a three-year note for the remainder owed. c. Paid $17,100 for an Internet advertisement run on 1/3. 2 C a. Received $68,500 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 $30,800 on 1/2; paid $19,900 cash and signed a three-year note for the remainder owed. c. Paid $17,100 for an Internet advertisement run on 1/3. d. On January 4, purchased and received $3,350 of supplies on account. e. Received $205,000 cash on 1/5 from customers for service revenue earned in January. f. On January 6, paid $3,350 cash for supplies purchased on January 4. g. On January 7, sold 19,400 subscriptions at $10 each for services provided during January. Half was collected in cash and half was sold on account. h. Paid $360,000 in wages to employees on 1/30 for work done in January. i. On January 31, received an electric and gas utility bill for $6,180 for January utility services. The bill will be paid in February.