Question

The following transactions are February activities of Swing Hard Incorporated, which offers indoor golfing lessons in the northeastern United States. a. Swing Hard paid $6.600 to its golf instructors for the month of February b. Swing Hard paid $3,400 for electricity used in the month of January c Swing Hard received an electricity bill for $1,210 for the month of February, to be paid in March. Prepare journal entries to record the above transactions. (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 < 1 2 3 Record the payment of $6,600 to its golf instructors for the month of February Enter dehits hefn eredits

Answer 1

Particulars	Account titles and explanation		Debit	Credit
a	Wages expense		$               6,600
	Cash			$           6,600
	(to wages paid to instructors for the month of February)
b	Accounts Payable		$               3,400
	Cash			$           3,400
	(to electricity bill for january paid)
c	Utilities expense		$               1,210
	Accounts Payable			$           1,210
	(to electricity bill for February received)
a	The workers have worked 111 hours for January, So company will record the Wages expense for those 111 hours in January
	For this Wages expense will be decited by $1,665(111 hours*$15) and Wages Payable will be credited for $1,665
b	The Insurance is valid for 3 months starting ffrom February to end of April
	So NO EXPENSE will be recognised in January, The entry shall be debit to Prepaid Insurance and creidt to cash on January 31 amounting $2,400
	SO the Final answer is $1,665