Maquina Lodge, owned by Bob Palmiter, had the following account balances, in random order, on December 15, 2017 (all accounts have their "normal" balances):

The following events also took place during the final weeks of the year:
Dec. 16 The accountant discovered that an error had been made in posting an entry to the Guest Revenue account. The entry was correctly journalized, but $4,200 was accidentally posted as $2,400 in the account.
17 Signed an agreement to let a retired professor move in during the off season for a long stay, beginning today. The monthly rate is $3,200 payable at the beginning of each month. The professor paid $1,550 cash for the remainder of December.
18 Collected an $18,000 note owed to Maquina and collected interest of $2,400 cash.
21 Purchased boating equipment for $14,000 from Boats Unlimited. Maquina Lodge paid $5,000 cash, provided room rentals for $1,600 to Boats Unlimited, and promised to pay the balance in 60 days.
23 Collected $2,800 cash for rooms for a conference held from December 16 to 23.
24 Maquina Lodge paid $2,000 cash owing on the mortgage.
27 Palmiter withdrew $14,000 cash for personal use.
29 Provided meeting rooms to a lawyer for $2,000. The lawyer paid Maquina Lodge $1,100 cash and provided legal work for the balance.
Required
1. Where appropriate, record each transaction from December 16 to 29 in the journal. Include an explanation for each entry.
2. Post entries in T-accounts and calculate the balance of each one.
3. Prepare the unadjusted trial balance of Maquina Lodge at December 31, 2017.

Transcribed Image Text:

$309,000 8,800 11,800 Furniture $57,800 3,800 26,000 21,000 Guest revenue.. Equipment rental ex B. Palmiter, capital!209,800 Supplies expense Mortgage payable Salaries expense Insurance ex Building Notes receivable.. Utilities expense Supplies inventory... Accounts payable...12,000 Office equipment..10,200 Boating equipment 96,800 30,000 81,000 g..200,000 30,000