A) If Johnny received $2,500 from a customer

A) To determine the account names that should be included in the balance sheet for Johnny's situation, let's break down the given information.

Johnny received $2,500 from a customer for services to be performed evenly over the next five months, starting in November. This transaction involves both an asset and a liability.

1. The asset account to be included is "Unearned Revenue" or "Deferred Revenue." This account represents the amount of money received in advance for services that are yet to be provided. It falls under the current liabilities section of the balance sheet since the services will be performed within the next year.

2. The liability account to be included is "Unearned Revenue" or "Deferred Revenue" (matching the asset account). This account represents the obligation to provide services in the future for which payment has already been received. It also falls under the current liabilities section.

So, the account names that should be included in the balance sheet are:
- Current Liabilities: Unearned Revenue or Deferred Revenue ($2,500)

B) Let's determine the account names that Johnny would include when he purchased land for his grandmother, which costs $10,000. He paid $4,000 in cash and financed the remaining $6,000 with a one-year, 12% note. The note's principal amount and interest will be paid when it matures in one year.

1. The account names associated with the purchase of land are as follows:

- Assets:
  - Land ($10,000): This account represents the value of the land acquired.
  - Cash ($4,000): This account represents the amount paid in cash for the land.

- Liabilities:
  - Notes Payable ($6,000): This account represents the amount financed with a note, which is a liability owed to the lender.

2. Additionally, we need to consider the interest associated with the note. Since the note carries a one-year, 12% interest rate, Johnny will have to account for the interest expense and interest payable.

- Interest Expense ($720): This account represents the interest expense calculated as 12% of the principal amount ($6,000) over one year.
- Interest Payable ($720): This account represents the amount of interest that Johnny owes and will need to pay when the note matures.

So, the account names that Johnny would type when he purchased land for his grandmother are:
- Assets: Land ($10,000), Cash ($4,000)
- Liabilities: Notes Payable ($6,000)
- Expenses: Interest Expense ($720)
- Current Liabilities: Interest Payable ($720)