The following transactions are February 2014 activities of InGolfHelp, which off

Question

The following transactions are February 2014 activities of InGolfHelp, which offers indoor golfing lessons. You have been hired to analyze the following transactions for a week in February 2014:

InGolfHelp bills a customer $133 for golf lessons given between February 15 and February 18. The bill is to be paid in March.

InGolfHelp received an electricity bill for $800 for the month of February, to be paid in March.

  

For each of the transactions, prepare journal entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

February 15 InGolfHelp collected $15,900 from customers for lessons given in February. February 15 InGolfHelp sold a gift card for golf lessons for $200 cash in February. February 18 InGolfHelp received $4,200 from credit sales made to customers in January. February 18 InGolfHelp collects $3,450 in advance payments for golf lessons to start in June. February 19

InGolfHelp bills a customer $133 for golf lessons given between February 15 and February 18. The bill is to be paid in March.

February 20 InGolfHelp paid $4,280 to its golf instructors for the month of February. February 21 InGolfHelp paid $1,515 for electricity used in the month of January. February 22

InGolfHelp received an electricity bill for $800 for the month of February, to be paid in March.

Explanation / Answer

Date Account title Debit credit Feb 15 Cash 15900 Accounts receivable 15900 [receivables collected for lesson given] 15feb cash 200 Lesson sales 200 [lesson gift sold ] feb 18 cash 4200 Accounts receivable 4200 [receivables collected for lesson given in jan ] feb 18 cash 3450 Fees in advance   /unearned service revenue 3450 [fees collected in advance for service is to be provided in june] feb 19 Accounts receivable 133 lesson revenue 133 [service provided but not received ] feb20 salary 4280 cash 4280 [paid salary to golf instructor ] feb 21 Electricity expense payable 1515 cash 1515 [bill for jan due paid in feb] feb 22 Electricity expense 800 Electricity expense payable 800 [bil for feb due but not paid]

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