Vanishing Games Corporation (VGC) operates a massively multiplayer online game, charging players a monthly subscription of $14. At the start of January 2018, VGC's Income statement accounts had zero balances and Its balance sheet account balances were as follows: Cash $1,730, e00 188,e00 15, 200 921, e00 ses, e00 Accounts Receivable Supplies Equipment Buildings Land 1,790,e00 153,e00 163,800 Accounts Payable Deferred Revenue Notes Payable (due 2025) 124, e00 2,900, e00 1,812, 200 Conmon Stock Retained Earnings

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Please help with the following question  Q3: Shafer Company has the following accounts in its general ledger atJuly 31: Accounts Receivable $49,000 and Allowance for Doubtful Accounts $3,400. During August, the following transactions occurred.   Aug.​15​Sold $30,000 of accounts receivable to More Factors, Inc. who assesses a 2% finance charge.   ​25​Made sales of $2,500 on Visa credit cards. The credit card service charge is 3%.   ​28​Made sales of $4,000 on Shafer credit cards.   Instructions (a)​Journalize the transactions. (b)​Indicate the statement presentation of service charges.   BR,

Please answer following question  Q5: Company Name Net Credit Sales Beginning Net Receivables Ending Net Receivables Brown $180,000 $  5,000 $30,000 Pink $400,000 $52,000 $42,000 Yellow $  75,000 $  5,400 $  5,800 (a)​Which company is doing the best job of managing its accounts receivable? Why? Be sure to support your answer with computations. (b)​What are your concerns about these companies?   BR,

Prepare a journal entry on August 13 for cash received for services rendered, $10,150. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.

Monty Clothing is a retailer in Atlanta, Georgia. The company sells gift cards and records the cash received in the Unearned Sales Revenue account. Presented below is the unadjusted trial balance for Monty Clothing as of December 31, 2022. MONTY CLOTHINGUnadjusted Trial BalanceDecember 31, 2022     Debit   Credit Cash   $ 29,800     Accounts Receivable   7,000     Inventory   39,600     Accounts Payable       7,200 Unearned Sales Revenue       5,500 Owner’s Capital       65,500 Owner’s Drawings   4,500     Sales Revenue       258,400 Sales Returns and Allowances   4,200     Sales Discounts   2,500     Interest Revenue       1,300 Cost of Goods Sold   137,400     Advertising Expense   9,600     Salaries and Wages Expense   64,700     Rent Expense   26,900     Utilities Expense   11,700       Totals   $337,900   $337,900 Adjustment data: 1.   Customers used gift cards to…

Quantum Solutions Company, a computer consulting firm, has decided to write off the $33,550 balance of an account owed by a customer, Alliance Inc. Required:   On March 1, journalize the entry to record the write-off, assuming that (a) the direct write-off method is used and (b) the allowance method is used. Refer to the Chart of Accounts for exact wording of account titles. CHART OF ACCOUNTS Quantum Solutions Company General Ledger   ASSETS 110 Cash 111 Petty Cash 121 Accounts Receivable-Alliance Inc. 129 Allowance for Doubtful Accounts 131 Interest Receivable 132 Notes Receivable 141 Merchandise Inventory 145 Office Supplies 146 Store Supplies 151 Prepaid Insurance 181 Land 191 Store Equipment 192 Accumulated Depreciation-Store Equipment 193 Office Equipment 194 Accumulated Depreciation-Office Equipment   LIABILITIES 210 Accounts Payable 211 Salaries Payable 213 Sales Tax Payable 214 Interest Payable 215…

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Vanishing Games Corporation (VGC) operates a massively multiplayer online game, charging players a monthly subscription of $11. At the start of January 2021, VGC's income statement accounts had zero balances and its balance sheet account balances were as follows: Cash Accounts Receivable Supplies Equipment Buildings Land $ 1,630,000 208,000 15,400 936,000 516,000 1,600,000 Accounts Payable Deferred Revenue Notes Payable (due 2025) Common Stock Retained Earnings 160,000 166,000 150,000 2,700,000 1,729,400 In addition to the above accounts, VGC's chart of accounts includes the following: Service Revenue, Salaries and Wages. Expense, Advertising Expense, and Utilities Expense. The following transactions occurred during the January month: a. Received $62,500 cash from customers on 1/1 for subscriptions that had already been earned and charged on account in 2020. b. Purchased 10 new computer servers for $41,100 on 1/2; paid $12,200 cash and signed a three-year note for the remainder owed.…