Recording events in the general journal and effect on financial statementsRequiredRecord e...

Recording events in the general journal and effect on financial statements

Required

Record each of the following transactions in general journal form and then show the effect of the transaction in a horizontal statements model. The first transaction is shown as an example.

a. Performed $19,000 of services on account.

b. Purchased land for $24,000 cash.

c. Purchased supplies for $530 cash.

d. Received $3,000 cash for services to be performed at a later date.

e. Collected $8,400 cash on accounts receivable.

f. Paid $2,300 cash in advance for an insurance policy.

g. Paid $ 1.200 on accounts payable.

h. Recorded the adjusting entry to recognize $800 of insurance expense.

i. Recorded the adjusting entry to recognize $600 accrued interest revenue.