En54-1. to4-6,4-8, 4-9, Ex 4-21, 4-24,4-27 EXERCISES LO2 EXAR of Cash Flows ouany 1. Campus Internet Connection opened for business across the street from Uone Tegem University. The company charges...

Extracted text: En54-1. to4-6,4-8, 4-9, Ex 4-21, 4-24,4-27 EXERCISES LO2 EXAR of Cash Flows ouany 1. Campus Internet Connection opened for business across the street from Uone Tegem University. The company charges students a monthly fee of $20 and $1 for each b are online. During January, 500 students signed up for the service, and each will have until he fifth of the following month to pay the monthly fee. By the end of January, 200 students had id the monthly fee. Student usage, payable at the time connected, was 3,000 hours during Jan- uary. Assume that Campus uses the accrual basis of accounting. Required 1. Prepare the Revenues section of Campus's income statement for the month of January. 2 Prepare the Cash Receipts section of Campus's statement of cash flows for the month of January. 3. In addition to the Cash account, what other account will appear on Campus's balance sheet at the end of January? What amount will be in this account? Exercise 4-2 Revenue Recognition The highway department contracted with a private company to collect tolls and maintain facilities on a turnpike. Users of the turnpike can pay cash as they approach the toll booth, or they can Parchase a pass, The pass is couinped with an electronic sensor that subtracts the toll fee from the