a. Performed $26,800 of services on account. b. Collected $18,400 cash on accounts receivable. c. Paid...

 

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a. Performed $26,800 of services on account. b. Collected $18,400 cash on accounts receivable. c. Paid $4,600 cash in advance for an insurance policy. d. Paid $820 on accounts payable. e. Recorded the adjusting entry to recognize $3,300 of insurance expense. f. Received $10,200 cash for services to be performed at a later date. g. Purchased land for $830 cash. h. Purchased supplies for $1,500 cash. Required Record each of the above 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. Transaction Account Titles a Accounts receivable Service revenue Debit 26,800 Credit 26,800 Complete this question by entering your answers in the tabs below. General Journal Horizontal Statements Model Show the effect of the transaction in a horizontal statements model. The first transaction is shown as an example. Note: Enter any decreases to account balances and cash outflows with a minus sign. In the Statement of Cash Flows column, use OA to designate operating activity, IA for investment activity, FA for financing activity, and NC for net change in cash. Not all cells require input. Balance Sheet Income Statement Transaction Assets = Liabilities + Stockholders' Equity Statement of Cash Flows Revenue Expenses = Net Income a. 26,800 = + 26,800 26,800 = 26,800 b1. 18,400 = 0+ 0 0 0 = 0 18,400 OA a. Performed $26,800 of services on account. b. Collected $18,400 cash on accounts receivable. c. Paid $4,600 cash in advance for an insurance policy. d. Paid $820 on accounts payable. e. Recorded the adjusting entry to recognize $3,300 of insurance expense. f. Received $10,200 cash for services to be performed at a later date. g. Purchased land for $830 cash. h. Purchased supplies for $1,500 cash. Required Record each of the above 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. Transaction Account Titles a Accounts receivable Service revenue Debit 26,800 Credit 26,800 Complete this question by entering your answers in the tabs below. General Journal Horizontal Statements Model Show the effect of the transaction in a horizontal statements model. The first transaction is shown as an example. Note: Enter any decreases to account balances and cash outflows with a minus sign. In the Statement of Cash Flows column, use OA to designate operating activity, IA for investment activity, FA for financing activity, and NC for net change in cash. Not all cells require input. Balance Sheet Income Statement Transaction Assets = Liabilities + Stockholders' Equity Statement of Cash Flows Revenue Expenses = Net Income a. 26,800 = + 26,800 26,800 = 26,800 b1. 18,400 = 0+ 0 0 0 = 0 18,400 OA

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