Refer to the income statement for Vail Resorts shown in the chapter opener. Using the account titles reported there, prepare the journal entry for each of the following hypothetical transactions. Assume that all transactions include either a debit or a credit to Cash.
1. Fuel for the motors in the ski lifts is purchased for $1,000.
2. A skier purchases a lift ticket for $80.
3. Salaries and wages for hotel staff of $4,000 are paid.
4. A guest pays $150 for one night's lodging.