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During the month of May 20--, The General's Favorite Fishing Hole engaged in the following transactions.

May-01	In order to provide snacks for guests on a 24-hour basis, Night signed a contract with Snack Attack. Snack Attack will install vending machines with food and drinks and pay a 10% commission on all sales. Estimated payments are made at the beginning of each month. Night received a check for $200, the estimated commission on sales for May.
2	Night purchased a surround sound system and big screen TV with a digital satellite system for the guest lounge. The surround sound system cost $3,600 and has an estimated useful life of five years and no salvage value. The TV cost $8,000, has an estimated useful life of eight years, and has a salvage value of $800. Night paid cash for both items.
2	Paid for Mays programming on the new digital satellite system, $125.
3	Nights office manager returned $100 worth of office supplies to Gordon Office Supply. Night received a $100 reduction on the account.
3	Deposited registration fees, $52,700.
3	Paid rent for lodge and campgrounds for the month of May, $40,000.
3	In preparation for the purchase of a nearby campground, Night invested an additional $600,000.
4	Paid Gordon Office Supply on account, $400.
4	Purchased the assets of a competing business and paid cash for the following: land, $100,000; lodge, $530,000; and fishing boats, $9,000. The lodge has a remaining useful life of 50 years and a $50,000 salvage value. The boats have remaining lives of five years and no salvage value.
5	Paid Mays insurance premium for the new camp, $1,000. (See above transaction.)
5	Purchased food supplies from Acme Super Market on account, $22,950.
5	Purchased office supplies from Gordon Office Supplies on account, $1,200.
7	Night paid $40 each for one-year subscriptions to Fishing Illustrated, Fishing Unlimited, and Fish Master. The magazines are published monthly.
10	Deposited registration fees, $62,750.
13	Paid wages to fishing guides, $30,000. (Dont forget wages payable.)
14	A guest became ill and was unable to stay for the entire week. A refund was issued in the amount of $1,000.
17	Deposited registration fees, $63,000.
19	Purchased food supplies from Acme Super Market on account, $18,400.
21	Deposited registration fees, $63,400.
23	Paid $2,500 for Mays advertising spots on National Sports Talk Radio.
25	Paid repair fee for damaged boat, $850.
27	Paid wages to fishing guides, $30,000.
28	Paid $1,800 for Mays advertising spots on billboards.
29	Purchased food supplies from Acme Super Market on account, $14,325.
30	Paid utilities bill, $3,300.
30	Paid phone bill, $1,800.
30	Paid Acme Super Market on account, $47,350.
31	Bob Night withdrew cash for personal use, $7,500.

Adjustment information at the end of May is provided below.

(a)	Total vending machine sales were $2,300 for the month of May. A 10% commission is earned on these sales.
(b)	Straight-line depreciation is used for the 10 boats purchased on April 2 for $60,000. The useful life for these assets is five years and there is no salvage value. A full months depreciation was taken in April on these boats. Straight-line depreciation is also used for the two boats purchased in May. Make one adjusting entry for all depreciation on the boats.
(c)	Straight-line depreciation is used to depreciate the surround sound system.
(d)	Straight-line depreciation is used to depreciate the big screen TV.
(e)	Straight-line depreciation is used for the building purchased in May.
(f)	On April 2, Night paid $9,000 for insurance during the six-month camping season. Mays portion of this premium was used up during this month.
(g)	Night received his May issues of Fishing Illustrated, Fishing Unlimited, and Fish Master.
(h)	Office supplies remaining on hand, $150.
(i)	Food supplies remaining on hand, $5,925.
(j)	Wages earned, but not yet paid, at the end of May, $6,000.

Required:

1.	Enter the transactions in a general journal. Enter transactions from May 14 on page 7, May 528 on page 8, and the remaining entries on page 9.
2.	Post the entries to the general ledger.
3.	Prepare a trial balance on a work sheet.
4.	Complete the work sheet.
5.	Journalize the adjusting entries
6.	Post the adjusting entries to the general ledger.