CHAPTER 11 HANDOUT 3 1. Ticketsales Inc. receives $5,000,000 cash in advance ticket sales for a four date tour of Bon Jovi. Record the sale on October 31. Record the revenue earned for the first concert date of November 5. 2. Dextra Computing sells merchandise for $6,000 cash on September 30 (cost of $3,900). The sales tax rate is 5%. Record the entry for the sales and the payment of the sales tax to the government on October 15 3. On November 7, Mura Company borrows $160,000 cash by signing a 90- day, 8% note. a. Compute the Interest Payable as of December 31 b. Prepare the journal entry for Interest Payable c. Prepare the journal entry to record the payment of the note on the due date 4. On September 11, Home Store sells a mower for $500 with a one-year warranty that covers parts. Warranty expense is estimated at 8% of sales. On July 24 of the following year, the mower is brought in for repairs covered under the warranty requires $35 of parts taken from the Repair Parts Inventory. Prepare the entry to accrue the warranty amount and the entry when the mower is actually repaired.