3. The following activities occurred for Bennett Company in July. Record the journal entry for each transaction, (b) through (j). Remember to fill in the parentheses. For each transaction, note the effects on net income, cash flow, and on the balance sheet ( A,L and SE), using parentheses to denote negative amounts. The answer to (a) is provided as an example. (a) Bennett's collected $15,000 from customers for games played in July. (b) Bennett's served customers food from its snack bar; received $800 in cash. The food had a cost of $270 to Bennett. What is Bennett's gross profit, in dollars? Hint: There are two journal entries. (c) Bennett's received $400 from customers who purchased merchandise from the pro shop in June on account. (d) The men's and ladies' bowling leagues gave Bennett's a deposit of $2,500 for the upcoming fall season. (e) Bennett's purchased $680 in food supplies for the snack bar; paid $590 in cash and owed the rest on account with the supplier. (f) Bennett's paid $500 on the electricity bill for June (recorded as an expense in June). 3 (g) Bennett's paid $3,600 to employees for work in July. (h) Bennett's purchased $1,500 in insurance for coverage from August 1 to November 1. (i) Bennett's paid $700 to plumbers for repairing a broken pipe in the restrooms. (j) Bennett's received the July electricity bill for $900 to be paid in August. \begin{tabular}{|c|c|c|c|} \hline Journal Entry & Net Income & Cash Flow & Balance Sheet \\ \hline (a)Cash(+A)Gamesrevenue(+R,+SE)15,000 & +15,000 & +15,000 & +A15,000++SE15,000 \\ \hline (b) & & & \\ \hline (c) & & & \\ \hline (d) & & & \\ \hline (e) & & & \\ \hline (f) & & & \\ \hline (g) & & & \\ \hline (h) & & & \\ \hline (i) & & & \\ \hline (j) & & & \\ \hline Total & 10,330 & 11,810 & +A13,320+L2,990+SE10,330 \\ \hline \end{tabular}