Jim's Gymnastics Training's Operations for the Month of October Are

question 168

Essay

Jim's Gymnastics Training's operations for the month of October are summarized as follows:
A.Provided $5,000 of training to students on account.
B.Received $4,000 cash from students for training provided in October.
C.Received $1,000 cash for training to be provided in November.
D.Received $3,000 cash from students on account for training provided in September.
E.Paid September's gym rental bill on account in the amount of $1,000.
F.Received October's rental bill of $1,500; set it aside.
Required:
Prepare journal entries to record the transactions identified among activities (A)through (F).

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Definitions:

Adlerian Counseling

A psychological approach focusing on individual psychology, emphasizing the importance of community and social interests.

Social Interest

Social interest involves a sense of community and empathy towards others, emphasizing the importance of cooperation and contribution to society's wellbeing.

Community Feeling

A sense of belonging and oneness with others, indicating a well-integrated individual in Adlerian psychology.

Basic Premise

The fundamental idea, concept, or assumption that is accepted as true and upon which arguments or theories are based or from which conclusions are drawn.