Entertainment Ltd will be hosting a concert on 29 August 2022. Entertainment Ltd has the following transactions in August 2022 associated with the concert and its business. Prepare the journal entries (for 1–3)

in good form using the most appropriate account titles (as referenced in the table shown).

Transactions:
1 Entertainment Ltd sold 10 000 tickets and collected payment on 1 August for the 29 August concert.
Tickets were priced at $50 each.
2 Entertainment Ltd paid $90 000 cash to TEK Arena on 4 August to host the 29 August concert.
3 Entertainment Ltd performed the concert on 29 August. (Note: there are two transactions necessary to be recorded on 29 August.)

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Accounts payable Accounts receivable Building Cash Cost of goods sold Concert equipment Concert revenue Long-term investment Note payable Note receivable Prepaid venue expense Retained earnings Unearned revenue Venue expense Wages expense