Katy Williams is the manager of Blue Light Arcade The

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Katy Williams is the manager of Blue Light Arcade. The company provides entertainment for par-
ties and special events. Prepare journal entries for the following events relating to the year
ended December 31. If the event is not a transaction, write “no transaction.”a. Blue Light
Arcade received $ 50 cash on account for a birthday party held two months ago.b. Agreed to
hire a new employee at a monthly salary of $ 3,000. The employee starts work next month.c.
Paid $ 2,000 for a table top hockey game purchased last month on account.d. Repaid a $ 5,000
bank loan that had been outstanding for six months. (Ignore interest.) e. The company
purchased an air hockey table for $ 2,200, paying $ 1,000 cash and signing a short- term note
for $ 1,200.View Solution:
Katy Williams is the manager of Blue Light Arcade The

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