Business, 11.02.2020 22:06 heavendl13

Katy Williams is the manager of Blue Light Arcade. The company provides entertainment for parties and special events.

a. Blue Light Arcade received $58 cash on account for a birthday party held two months ago.
b. Agreed to hire a new employee at a monthly salary of $3,250. The employee starts work next month.
c. Paid $2,250 for a table top hockey game purchased last month on account.
d. Repaid a $5,250 bank loan that had been outstanding for six months. (Ignore interest.)
e. The company purchased an air hockey table for $3,200, paying $1,500 cash and signing a short-term note for $1,700.

Prepare journal entries for the above transactions relating to the year ended December 31.

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Katy Williams is the manager of Blue Light Arcade. The company provides entertainment for parties an...