15. Oct. On October 1, the Courtland Cougars Hockey Team, owned by J. Lambert, had the following accounts, some with balances and some without: Cash $12 000; Accounts Receivable/Stokes Dept. Stores; Equipment $4000; Bus $15 000; Accounts Payable/Klaman Motors $5300; J. Lambert, Capital $25 700; Ticket Sales; Players' Salaries Expense; Bus Maintenance Expense; Arena Rental Expense; Advertising Expense. (a) (b) 2489 10 14 16 17 12 20 Set up the general ledger for the hockey team on October 1, and record the transactions given below for the month of October. On October 31, balance the accounts and prepare a trial balance, an income statement for the month, and a balance sheet. Received $120 000 cash from sales of season tickets. Purchased equipment for $3000 cash. Received a $250 bill from Klaman Motors for repairs to the team bus. Issued a bill for $2100 to Stokes Department Stores, which bought 500 tickets for the team's opening home game. (The tickets will be used for promotional purposes.) Paid a $350 rental fee for use of the arena for the last two weeks' practice. Issued cheques for $10 400 to pay the players' salaries for the past two weeks. Paid $350 cash to KCV TV for advertising the first home game on October 26. Paid $470 to the Daily Reporter for advertising. The week's sale of tickets for the opening game brought in $3500 in cash. 24 2232 26 28 29 Paid $50 cash for gas and oil for the bus on the first away-from-home game. Received a further $8700 cash for ticket sales on the opening game. Paid $2100 cash to the arena for the last two week's rent. Issued cheques for $9800 to pay the players' salaries for the rest of the month