a. Borrowed $640,000 from the bank on December 1, signing a note payable, due in six months. b. Purchased a new snowplow for $34,750 cash on December 31. c. Purchased ski supplies for $17,800 on account. d. Incurred $26,900 in routine maintenance expenses for the chairlifts; paid cash. e. Received $74,000 for season passes (beginning in the new year). f. Daily lift passes were sold this month for a total of $92,200 cash. g. Received a $750 deposit on a townhouse to be rented for five days in January. h. Paid half the charges incurred on account in (c) 1. Incurred and paid $26,500 in wages to employees for the month of December. Required: 1. Prepare accrual basis journal entries for each transaction. 2. Calculate the company's preliminary net income. Complete this question by entering your answers in the taps below. Required 1 Required 2 Calculate the company's preliminary net income. Preliminary Net Income