[thalialex]

Please, check to see if, I am on the right track. Thank you...

Problem: Accepted cash in advance for artwork to be done for another agency, (credit Unearned Advertising Fees), $1600

Cash (debit) 1,600
Unearned Art Fees (credit) 1,600


Problem: Paid the amount due to Morgan Equipment for the purchased of office equipment last month, $1,500

Office Equipmen/tAcc Pay $1,500 (debit)
Cash $1,500 (credit)


Problem: Feb. 14 Purchased a copier from Morgan Equipment for $2,100 paying $250 in cash and agreeing to pay he rest in equal payments over the next five months.

Equipment $2100 (debit)
Cash $250 (debit)
Acc Pay 1750 (credit)



Problem: Performed advertising services and accepted a cash fee, $1,050.

Ser Revenue $1,050 (debit)
CAsh $1050 (credit)

Problem: Received payment on account from Ward Department Stores for services performed last month, $2,800

Acc Rec. $2800 (debit)
Service Rev. $2800 (credit)

[pready]

First journal entry the Credit should be to Unearned Advertising Fees.

The second journal entry should be: Debit Accounts Payable - Morgan Equipment and Credit Cash

The third journal entry your Cash should be Credited, not Debited.

The fourth journal entry the Debit should be to Cash and your Credit should be to Advertising Fees Earned

The last journal entry your Debit should be to Cash and your Credit should be to Accounts Receivable - Ward Department Stores