Business Events and Transactions for September 2019:

The following transactions occurred during the first week of September.

September 1- Pay the $3,175 August interest owed to the bank. Also make a $40,000 payment on the bank note principal.

September 1- The company purchased office supplies for the first time in September. They purchased $2,400 in supplies from Office Depot and paid for it in cash.

September 5- the company has collected $225,000 in cash on the August 31 outstanding accounts receivable. Record the collection of the accounts receivable.

September 5- Sunhurst Country Club, LLC paid its outstanding August 31 Salaries Payable of $3,000.

September 5- Sunhurst Country Club, LLC paid the August 31 accounts payable of $184,921. Since no purchase discounts were available, the full amount owed for August was paid.

Record the following transactions that occurred during the month of September. Record the transactions on September 30^th:

Total Rental Fees for golf clubs, carts, etc collected in cash for the month were $22,500.

Total Greens Fees Revenue collected in cash for the month of September was $245,600.

The golf instructor has finished the last two weeks of golf lessons for the students that paid in July (4 weeks of revenue earned during last month August and remaining 2 weeks in September). The golf students who paid in August began their lessons in September. The golf course has earned 4 of the six weeks that the students paid for in August. Record the total golf lesson revenue earned during the month of September. Use the Excel Template to help you make the calculation.

Golf course maintenance expenses paid in cash for the month of September were $155,200.

Payroll accounting (see Chapter 8): The salary expense for September was $23,000. Payroll withholdings for the employees federal, state and FICA withholdings totaled $4,500 which was accrued at month end for payment in October. This resulted in the net payroll paid to employees of $18,500 during September. Credit the Payroll Taxes Payable account for the withholdings and cash for the net payroll the employees received. RECORD THE FOLLOWING ENTRY:

Salaries Expense 23,000

Payroll Tax Payable 4,500

Cash 18,500

2

Utility expenses (electricity, water, sewer) paid in cash during September totaled $48,120.