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Over-the-Top Technologies (OTT) operates a computer repair and web consulting business. News Now...

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Accounting

Over-the-Top Technologies (OTT) operates a computer repair and web consulting business. News Now (NN) publishes a local newspaper. The two companies entered into the following transactions.
NN billed OTT for $855 of advertising services provided this month on account.
OTT repaired some of NN's equipment this month, for $210 on account.
NN collected $855 cash from OTT for the advertising services provided in (a).
NN paid $84 cash to OTT for OTT advertising NN's online newspaper this month on OTT's Website.
OTT and NN signed a promissory note, documenting OTT's $800 cash loan to NN this month with repayment to occur in six months.
Note: News Now (NN) records advertising revenue in the Advertising Revenue account.
Required:
Show the journal entries that OTT would record for items (a)(e).
Show the journal entries that NN would record for items (a)(e).

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