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Bob Night opened The General's Favorite Fishing Hole. The fishing camp is open from April through September and attracts many famous college basketball coaches during

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Bob Night opened "The General's Favorite Fishing Hole." The fishing camp is open from April through September and attracts many famous college basketball coaches during the off-season. Guests typically register for one week, arriving on Sunday afternoon and returning home the following Saturday afternoon. The registration fee includes room and board, the use of fishing boats, and professional instruction in fishing techniques. Ledger balances for The General's Favorite Fishing Hole at the end of May are as follow: 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 Ife for these assets is five years and there is no salvage value. A full month's depreciation was taken in Aprit on these boats. Straightline 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. May's portion of this premium was used up during this month. (9) Night recelved his May issues of Fishing Illustrated, Fishing Unlimited, and Fish Master. (h) Office supplies remaining on hand, $150. (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. 6. Post the adjusting entries to the general ledger. If an amount box does not require an entry, leave it blank. After posting to the general ledger, go to part 5 and complete the posting in the general journaL. Bob Night opened "The General's Favorite Fishing Hole." The fishing camp is open from April through September and attracts many famous college basketball coaches during the off-season. Guests typically register for one week, arriving on Sunday afternoon and returning home the following Saturday afternoon. The registration fee includes room and board, the use of fishing boats, and professional instruction in fishing techniques. Ledger balances for The General's Favorite Fishing Hole at the end of May are as follow: 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 Ife for these assets is five years and there is no salvage value. A full month's depreciation was taken in Aprit on these boats. Straightline 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. May's portion of this premium was used up during this month. (9) Night recelved his May issues of Fishing Illustrated, Fishing Unlimited, and Fish Master. (h) Office supplies remaining on hand, $150. (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. 6. Post the adjusting entries to the general ledger. If an amount box does not require an entry, leave it blank. After posting to the general ledger, go to part 5 and complete the posting in the general journaL

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