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9/5/2017 Assignment Print View http://ezto.mheducation.com/hm.tpx?todo=c15SinglePrintView&singleQuestionNo=2.&postSubmissionView=13252705465608866&wid=13252706492061368&role… 2/3 2. Award: 3.00 points The Jamesway Corporation had the following situations on December 2018. 1. On December 20, 2018, Jamesway received a $4,000 payment from a customer for services to be rendered early in 2019. Service revenue was credited. 2. On December 1, 2018, the company paid a local radio station $2,000 for 40 radio ads that were to be aired, 20 per month, throughout December and January. Prepaid advertising was debited. 3. Employee salaries for the month of December totaling $16,000 will be paid on January 7, 2019. 4. On August 31, 2018, Jamesway borrowed $60,000 from a local bank. A note was signed with principal and 8% interest to be paid on August 31, 2019. Prepare the necessary adjusting entries at its year­end of December 31, 2018. No adjusting entries were recorded during the year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No Transaction
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