Business, 03.03.2020 03:26 nathangirnet

Rowland & Sons Air Transport Service, Inc., has been in operation for three years. The following transactions occurred in February:

Feb. 1 Paid $200 for rent of hangar space in February.
Feb. 4 Received customer payment of $800 to ship several items to Philadelphia next month.
Feb. 7 Flew cargo from Denver to Dallas; the customer paid in full ($900 cash).
Feb. 10 Incurred and paid $1,200 in pilot wages for flying in February.
Feb. 14 Paid $100 for an advertisement run in the local paper on February 14.
Feb. 18 Flew cargo for two customers from Dallas to Albuquerque for $2,505; one customer paid $795 cash and the other asked to be billed $1,710.
Feb. 25 Purchased on account $1,730 in supplies for future use on the planes.

Required:
Prepare accrual basis journal entries for each transaction.

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Rowland & Sons Air Transport Service, Inc., has been in operation for three years. The following...

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