Rowland & Sons Air Transport Service, Inc., has been in operation for three years. The following transactions occurred in February:
Feb. 1 Paid $500 for rent of hangar space in February.
Feb. 4 Received customer payment of $1,510 to ship several items to Philadelphia next month.
Feb. 7 Flew cargo from Denver to Dallas; the customer paid in full ($1,410 cash).
Feb. 10 Incurred and paid $1,500 in pilot wages for flying in February.
Feb. 14 Paid $116 for an advertisement run in the local paper on February 14.
Feb. 18 Flew cargo for two customers from Dallas to Albuquerque for $2,130; one customer paid $860 cash and the other asked to be billed $1,270.
Feb. 25 Purchased on account $1,755 in supplies for future use on the planes.
Required:Prepare accrual basis journal entries for each transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

Accrual basis journal entries for each transaction are given below according to their dates. As we all know expenses and assets are recorded on the debit side and liabilities and capital are recorded on the credit side.

Feb 1

DEBIT CREDIT

Rent expense 500

Cash 500

Feb 4

DEBIT CREDIT

Cash 1510

Unearned Revenue 1510

Feb 7

DEBIT CREDIT

Cash 1410

Service Revenue 1410

Feb 10

DEBIT CREDIT

Wages 1500

Cash 1500

Feb 14

DEBIT CREDIT

Advertisement Expense 116

Cash 116

Feb 18

DEBIT CREDIT

Cash 860

Receivable 1270

Service revenue 2130

Feb 25

DEBIT CREDIT

Supplies 1755

Cash 1755