Exercise $13-14$A $($Algo$)$ Recording events in the general journal and identifying their effect on financial statements LO $13-2$

Performed $$29,700$ of services on account.

Collected $$21,300$ cash on accounts receivable.

Paid $$5,900$ cash in advance for an insurance policy.

Paid $$910$ on accounts payable.

Recorded the adjusting entry to recognize $$3,400$ of insurance expense.

Received $$9,400$ cash for services to be performed at a later date.

Purchased land for $$1,440$ cash.

Purchased supplies for $$1,400$ 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.