For each of the transactions, if an expense is to be recognized in January,

For each of the transactions, if an expense is to be recognized in January, indicate the expense account title and the amount. If an expense is not to be recognized in January, indicate why. The following transactions occurred in January 2016:McGraw-Hill Education uses $3,800 worth of electricity and natural gas in its headquarters building for which it has not yet been billed.At the beginning of January, Turner Construction Company pays $963 for magazine advertising to run in monthly publications each of the first three months of the year.The campus bookstore receives 500 accounting texts at a cost of $95 each. The terms indicate that payment is due within 30 days of delivery.During the last week of January, the campus bookstore sold 500 accounting texts received in (e) at a sales price of $130 each.Hyundai, Inc., pays its salespersons $13,800 in commissions related to December automobile sales. Answer from Hyundai’s standpoint.A new grill is purchased and installed at a Wendy’s restaurant at the end of the day on January 31; a $12,750 cash payment is made on that day.Carousel Center Mall had janitorial supplies costing $3,500 in storage on Jan.1, 2016. An additional $2,600 worth of supplies was purchased during January. At the end of January, $1,400 worth of janitorial supplies remained in storage.Wang Company paid $4,800 for a fire insurance policy on January 1. The policy covers 12 months beginning on January 1. Answer from Wang’s point of view.Hass Company, a farm equipment company, receives its phone bill at the end of January for $154 for January calls. The bill has not been paid to date.Parillo’s Taxi Company pays a $595 invoice from a consulting firm for services received and recorded in December.