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 $200 on account. b. On the last day of the month, Junktrader paid $50 cash to run an ad promoting the company's services. The ad ran that day in the local newspaper. c. Received $200 cash in membership fees for the month from new members. d. Received an electricity bill for $85, for usage this month. The bill will be paid next month. e. Billed a customer $180 for helping sell some junk. Junktrader expects to receive the customer's payment by the end of next month. Required: Prepare journal entries for the above transactions, which occurred during a recent month. (Omit the "$" sign in your response.) Event General Journal Debit Credit a. Accounts receivable Advertising revenue b. Advertising expense Cash c. Cash Membership revenue d. Utilities expense Accounts payable e. Accounts receivable Services revenue

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 $200 on account.
b.	On the last day of the month, Junktrader paid $50 cash to run an ad promoting the company's services. The ad ran that day in the local newspaper.
c.	Received $200 cash in membership fees for the month from new members.
d.	Received an electricity bill for $85, for usage this month. The bill will be paid next month.
e.	Billed a customer $180 for helping sell some junk. Junktrader expects to receive the customer's payment by the end of next month.

Required:

Prepare journal entries for the above transactions, which occurred during a recent month. (Omit the "$" sign in your response.)

 

Event	General Journal	Debit	Credit
a.	Accounts receivable
	Advertising revenue
b.	Advertising expense
	Cash
c.	Cash
	Membership revenue
d.	Utilities expense
	Accounts payable
e.	Accounts receivable
	Services revenue