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Jan. 1 Prepaid insurance for January through March, $300 4 Performed service (gave golf lessons) on account, $2,200 5 purchased equipment on account,...
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 cahs, $800 19 performed service and received cahs, $700 24 collected $400 on account 26 paid account payable from january 5 29 paid salary expense, $900 31 recorded adjusting entry for January insruance expense (see Jan. 1) 31 debited unearned revenue and credited revenue to adjust the accounts, $600 Show how each transaction woudl be handled using the accrual basis of accounting. Give the amount of revenue or exepnse for January. JOurnal entries are not required.
