Junktrader is an online company that specializes in matching buyers and sellers of used items. Buyers and sellers can purchase a membership with Junktrader, which provides them advance notice of potentially attractive offers.
a. Junktrader provided online advertising services for another company for $380 on account.
b. On the last day of the month, Junktrader paid $75 cash to run an ad promoting the company's services. The ad ran that day in the local newspaper.
c. Received $205 cash in membership fees for the month from new members.
d. Received an electricity bill for $130 for usage this month. The bill will be paid next month.
e. Billed a customer $216 for helping sell some junk. Junktrader expects to receive the customer's payment by the end of next month.
Required:
Prepare joumal entries for the above transactions, which occurred during a recent month.
Answers: 1
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