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Question 1 For each transaction below, prepare a journal (if needed) to record the initial transaction and then prepare a journal if available on...
Question 1
For
each transaction below, prepare a journal (if needed) to record the initial
transaction and then prepare a journal if available on September 30.
(A)
On September 1, the fee for divisitation for three months, $ 210,000.
(B)
On September 1, the entrance ticket for entry tickets to the racetrack. The
racing season throughout the year with 25 days of racing each month. Optical
ticket sales reach $ 840,000.
(C)
On September 1, $ 300,000 was settled from First National Bank with 9% debt
issuance which must be paid in three months.
(D)
On September 5, the schedule for 20 racing days in September, 25 racing days in
October, and 15 racing days in November tied for $ 3,000. (E) Accountants for
concession companies report that gross receipts for September are $ 160,000.
Ten percent because of the track and will be sent on October 10.
Question 2
