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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