Katy Williams is the manager of Blue Light Arcade. The company provides entertainment for parties...
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Accounting
Katy Williams is the manager of Blue Light Arcade. The company provides entertainment for parties and special events. Prepare journal entries for the following events relating to the year ended December 31. If the event is not a transaction, write "no transaction." a. Blue Light Arcade received exist50 cash on account for a birthday party held two months ago. b. Agreed to hire a new employee at a monthly salary of exist3,000. The employee starts work next month. c. Paid exist2,000 for a table top hockey game purchased last month on account. d. Repaid a exist5,000 bank loan that had been outstanding for six months. (Ignore interest.) e. The company purchased an air hockey table for exist2, 200, paying exist1,000 cash and signing a short-term note for exist1, 200
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