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Unformatted text preview: M3-3ActivityRevenue Account Title & AmountBobs collected $10,000 from customers for games played in JulyGame Fee Revenue$10,000Bobs sold bowling equipment in inventory for $5,000; received $3,000 in cash and the rest on account. [The cost of goods sold (expense) related to these sales is in M3-4e.]Sales Revenue$5,000Bobs received $1,000 from customers on account who purchased merchandise in June.No Account Since the sale was made in June, the revenue is reflected in June.The mens and ladies bowling leagues gave Bobs a deposit of $1,500 for the upcoming fall season.No AccountSince the revenue has yet to be earned, there is no revenue account.M3-4ActivityExpense Account Title & AmountBobs sold bowling merchandise costing $2,000Cost of Goods Sold$2,000Bobs paid $2,000 on the electricity bill for JuneNoneSince the expense was incurred in June there is no expense account in JulyBobs paid $4,000 to employees for work in JulyWages Expense$4,000Bobs purchased $1,200 in insurance for coverage from July 1 to October 1Insurance Expense$400$800 at a later dateBobs paid $1,000 to plumbers for repairing a broken pipe in the restroomsMaintenance Expense$1,000Bobs received the July electricity bill for...
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- Spring '07