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 $675 of advertising services provided this month on account b. OTT repaired some of NN's equipment this month for $165 on account CNN collected $675 cash from OTT for the advertising services provided in (a) d. NN paid $70 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 $2,000 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 (o)-(e) 2. Show the journal entries that NN would record for items (@-le! Complete this question by entering your answers in the tabs below. Journal entry worksheet 2 3 4 NN billed OTT for $675 of advertising services provided this month on account. Record the transaction. Note: Enter debits before credits. Transaction General Journal Debit Credit ournal entry worksheet 1 2 3 4 5 OTT repaired some of NN's equipment this month, for $165 on account. Record the transaction. Note: Enter debits before credits. Transaction General Journal Debit Credit Journal entry worksheet
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