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a. Borrowed $910,000 from the bank on December 1, signing a note payable, due in six months. b. Purchased a new snowplow for $41,750
a. Borrowed $910,000 from the bank on December 1, signing a note payable, due in six months. b. Purchased a new snowplow for $41,750 cash on December 31. c. Purchased ski supplies for $19,700 on account. d. Incurred $28,800 in routine maintenance expenses for the chairlifts; paid cash. e. Received $76,250 for season passes (beginning in the new year). f. Daily lift passes were sold this month for a total of $85,800 cash. g. Received a $570 deposit on a townhouse to be rented for five days in January. h. Paid half the charges incurred on account in (c). i. Incurred and paid $23,800 in wages to employees for the month of December.
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