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Vanishing Games Corporation $($VGC$)$ operates a massively multiplayer online game, charging players a monthly subscription of $$12.$ At the start of January $2021,$ VGC$$s income statement accounts had zero balances and its balance sheet account balances were as follows:

Cash $ $1,940,000$

Accounts Receivable $183,000$

Supplies $17,200$

Equipment $953,000$

Buildings $498,000$

Land $1,940,000$

Accounts Payable $111,000$

Deferred Revenue $157,000$

Notes Payable $($due $2025)152,000$

Common Stock $2,700,000$

Retained Earnings $2,411,200$

In addition to the above accounts, VGC$$s chart of accounts includes the following: Service Revenue, Salaries and Wages Expense, Advertising Expense, and Utilities Expense. The following transactions occurred during the January month:

Received $$60,250$ cash from customers on $1/1$ for subscriptions that had already been earned and charged on account in $2020.$

Purchased $10$ new computer servers for $$41,800$ on $1/2$; paid $$19,600$ cash and signed a three$-$year note for the remainder owed.

Paid $$12,400$ for an Internet advertisement that ran today on $1/3.$

On January $4,$ purchased and received $$5,500$ of supplies on account.

Received $$200,000$ cash on $1/5$ from customers for service revenue earned but not previously recorded in January.

On January $6,$ paid $$5,500$ cash for supplies purchased on January $4.$

On January $7,$ sold $13,000$ subscriptions at $$12$ each for services provided during January. Half was collected in cash and half was sold on account.

Paid $$330,000$ in wages to employees on $1/30$ for work done in January.

On January $31,$ received an electric and gas utility bill for $$6,250$ for January utility services. The bill will be paid in February.

Enter the beginning balances shown above in the following T$-$accounts and post the journal entries.

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