Using the Form Below,record Each of the Following 2012 Transactions

question 42

Essay

Using the form below,record each of the following 2012 transactions for Craig Corporation:
a)Nov.1.Received cash from clients for services to be performed over the next six months,$6,000.
b)Nov.1.Paid $600 for a 12-month insurance policy.
c)Dec.31.Recorded expiration of two months of the insurance.
d)Dec.31.Earned $2,000 of the amount received from clients in November.

---

Definitions:

Cognitive Development

The process by which individuals acquire and evolve abilities in thinking, reasoning, and understanding as they grow.

Language

A method of human communication, either spoken or written, consisting of the use of words in a structured and conventional way.

Frustration

An emotional response to opposition, arising from situations where a person's progress toward a goal is blocked.

Development

The process of growth and change that humans go through throughout their life, encompassing physical, cognitive, emotional, and social aspects.