Exercise 2-7 Analyzing and journalizing revenue transactions L03,5 Examine the following transactions and identify those that created revenues for TI Servicing, a sole proprietor-
ship owned by Todd Iver. Prepare general journal entries to record those transactions and explain why the
other transactions did not create revenues.
a. Invested$76,500 cash in the business.
b. Provided$2,700 of services on credit.
c. Received$3,150 cash for provided to a client.
d. Received$18,300 from a client in payment for services to be provided next year.
e. Received$9,000 from a client in partial payment of an account receivable.
f. Borrowed$300,000 from the bank by signing a promissory note.
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