M$3-4$ Identifying Expenses

LO$3-2,$

$3-3$

Craig's Bowling Ltd$.$ operates several bowling centres $($for games and equipment sales$).$ The following transactions occurred in

November $2020.$ If expense is to be recognized in November, indicate the account title and amount of expense. If expense is not to

be recognized in November, explain why.

g$.$ Craig's sold bowling merchandise costing $$6,800.($Consider only the effect on cost of sales $[$expense$]$ here.

The revenue is analyzed in $M3-3(b).)$

h$.$ Craig's paid $$800$ on the electricity bill for October $($recorded as expense in October$).$

i$.$ Craig's paid $$3,500$ to employees for work in November.

j$.$ Craig's purchased $$1,500$ in insurance for coverage from November $1,2020$ to January $31,2021.$

k$.$ Craig's paid $$700$ to plumbers for repairing a broken pipe in the restrooms.

Craig's received the November electricity bill for $$900$ to be paid in December.