Record each of the following transactions in general journal form and then show the effect of the transaction in a horizontal statements model. The first transaction is shown as an example.

a. Performed $9,500 of services on account.
b. Purchased land for $12,000 cash.
c. Purchased supplies for $265 cash.
d. Received $1,500 cash for services to be performed at a later date.
e. Collected $4,200 cash on accounts receivable.
f. Paid $1,150 cash in advance for an insurance policy.
g. Paid $600 on accounts payable.
h. Recorded the adjusting entry to recognize $400 of insurance expense.
i. Recorded the adjusting entry to recognize $300 accrued interestrevenue.

  • CreatedOctober 12, 2013
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