Journal Entries for Carnival Cruise Corporation (Appendix)

Refer to the income statement for Carnival Cruise Corporation 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 is purchased for $10,000.

2. A passenger purchases a ticket for $2,000.

3. Salaries and wages of $4,000 are paid.

4. A passenger pays $50 for pictures in the photo gallery.

5. A travel agent is paid $700 in commissions.

AppendixLO1