I NEED HELP MAKING A GENERAL JOURNAL FOR THIS 1. Record the receipt of $55,750 c

Question

I NEED HELP MAKING A GENERAL JOURNAL FOR THIS

1. Record the receipt of $55,750 cash from customers for subscriptions that had already been earned in 2014.

2.Record the receipt of $240,000 cash from Electronic Arts, Inc. for service earned in the month of January.

3.Record the purchase of 10 new computer servers for $35,400; paid $14,300 as cash and signed a three year note for the remainder owed.

4.Record the payment of $11,000 for an Internet advertisement run on Yahoo! in January.

5.Record the sale of 11,200 monthly subscriptions at $11 each for services provided during January. Half was collected in cash and half was sold on account.

6.Record the receipt of an electric and gas utility bill for $5,570 for January utility services. The bill will be paid in February.

7.Record the payment of $340,000 in wages to employees for work done in January.

8.Record the purchase $3,600 of supplies on account.

9.Record the payment of $3,600 cash to the supplier in (h).

Explanation / Answer

Journal Entry Date Particulars Dr. Amount Cr. Amount 1 Cash                                                              Dr. 55750     To Accounts Receivables 55750 (Cash recd. From customers) 2 Cash                                                              Dr. 240000     To Service Income 240000 (Cash recd. From Electronics Arts Inc.) 3 Computer                                                   Dr. 35400    To Cash 14300    To Notes Payable 21100 (Purchased computer servers and paid in cash and notes to be paid in 3 years) 4 Advertisement Expense                      Dr. 11000     To Cash 11000 (payment of internet advertisement expense on yahoo) 5 Cash                                                             Dr. 61600 Accounts Receivable                            Dr. 61600    To Sale - Monthly Subscription 123200 (Sale of 11200 Monthly subsciptions at $11 per subscription) 6 Utility Exp - Electricity & Gas             Dr. 5570    To Accrued Utility Exp. 5570 (Utility bill recd for jan to be paid in Feb.) 7 Wages Exp.                                               Dr. 340000     To Cash 340000 (Payment of wages in Jan.) 8 Supplies                                                     Dr. 3600    To Accounts Payable 3600 (Purchase of supplies on account) 9 Accounts Payable                                   Dr. 3600     To Cash 3600 (Payment to supplier made)

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