Junk2Trade is an online company that specializes in matching buyers and sellers of used items. Buyers and sellers can purchase a membership with Junk2Trade, which provides them advance notice of potentially attractive offers. Prepare journal entries for the following transactions, which occurred during a recent month, and determine Junk2Trade’s preliminary net income. 

a. Junk2Trade provided online advertising services for another company for $200 on the account. 

b. On the last day of the month, Junk2Trade paid $50 cash to run an advertisement promoting the company’s services. The advertisement ran that day in the local newspaper. 

c. Junk2Trade received $200 cash in membership fees for the month from new members. 

d. Junk2Trade received an electricity bill for $85, for usage this month. The bill will be paid next month. 

e. Junk2Trade billed a customer $180 for helping to sell some junk. The company expects to receive the customer’s payment by the end of next month.