Question: Over-the-Top Technologies (OTT) operates a computer repair and web consulting business News Now (NN) publishes a local newspaper. The two companies entered into the following










Over-the-Top Technologies (OTT) operates a computer repair and web consulting business News Now (NN) publishes a local newspaper. The two companies entered into the following transactions. a. NN billed OTT for $855 of advertising services provided this month on account. b. OTT repaired some of NN's equipment this month, for $210 on account. C. NN collected $855 cash from OTT for the advertising services provided in (a). d NN paid $84 cash to OTT for OTT advertising NN's online newspaper this month on OTT's Website e OTT and NN signed a promissory note, documenting OTT's $800 cash loan to NN this month with repayment to occur in six months. Required: 1. Show the journal entries that OTT would record for items (a)-(e). 2. Show the journal entries that NN would record for items (a)-(e). Complete this question by entering your answers in the tabs below. Required 1 Required 2 Show the journal entries that OTT would record for items (a)-(e). (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet NN billed OTT for $855 of advertising services provided this month on account. Record the transaction. Note: Enter debits before credits. Transaction General Journal Debit Credit a Record entry Clear entry View general journal Journal entry worksheet 1 2 3 4 5 > OTT repaired some of NN's equipment this month, for $210 on account. Record the transaction. Note: Enter debits before credits. Transaction General Journal Debit Credit b Record entry Clear entry View general journal Journal entry worksheet NN collected $855 cash from OTT for the advertising services provided in (a). Record the transaction. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet NN billed OTT for $855 of advertising services provided this month on account. Record the transaction. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet NN collected $855 cash from OTT for the advertising services provided in (a). Record the transaction. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet
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