The following transactions are February 2017 activities of InGolfHelp, which offers indoor golfing lessons. You...
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Accounting
The following transactions are February 2017 activities of InGolfHelp, which offers indoor golfing lessons. You have been hired to analyze the following transactions for a week in February 2017:
February 15 | InGolfHelp collected $12,000 from customers for lessons given in February. | |
February 15 | InGolfHelp sold a gift card for golf lessons for $150 cash in February. | |
February 18 | InGolfHelp received $2,500 from credit sales made to customers in January. | |
February 18 | InGolfHelp collects $1,500 in advance payments for golf lessons to start in June. | |
February 19 | InGolfHelp bills a customer $127 for golf lessons given between February 15 and February 18. The bill is to be paid in March. | |
February 20 | InGolfHelp paid $3,890 to its golf instructors for the month of February. | |
February 21 | InGolfHelp paid $1,200 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. |
Required: 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.)
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