Chapter 3 week 2 P3-31A

Chapter 3 week 2 - P331A Jan.,$300 4Performedservice(gavegolflessons)onaccount,$2,200 ,$1,900 ,$450 ,$800 ,$700 24Coll

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P3-31A     Jan. 1 Prepaid insurance for January through March, $300   4 Performed service (gave golf lessons) on account, $2,200   5 Purchased equipment on account, $1,900   8 Paid property tax expense, $450   11 Purchased office equipment for cash, $800   19 Performed service and received cash, $700   24 Collected $400 on account   26 Paid account payable from January 5   29 Paid salary expense, $900   31 Recorded adjusting entry for January insurance expense (see Jan. 1)  31Debited unearned revenue and credited revenue to adjust the accounts, $600                       1.        Show how each transaction would be handled using the accrual basis of  accounting. Give the amount of revenue or expense for January. Journal entries are  not required.       Amount of Revenue (Expense) for January   Date   Cash Basis   Revenue (Expense)   Accrual-Basis  Amount of Revenue (Expense)   Jan 1          
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This note was uploaded on 06/13/2011 for the course ACC 205 taught by Professor Robertcarr during the Spring '10 term at Ashford University.

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Chapter 3 week 2 - P331A Jan.,$300 4Performedservice(gavegolflessons)onaccount,$2,200 ,$1,900 ,$450 ,$800 ,$700 24Coll

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