During the month of May 20--, The General's Favorite Fishing Hole engaged in the following transactions. These transactions required an expansion of the chart of accounts as shown below. Chart of Accounts Assets Revenues 101 Cash 401 Registration Fees 142 Office Supplies 404 Vending Commission Revenue 144 Food Supplies Expenses 145 Prepaid Insurance 511 Wages Expense 146 Prepaid Subscriptions 512 Advertising Expense 161 Land 521 Rent Expense 171 Buildings 523 Office Supplies Expense 171.1 Accum. Depr.Buildings 524 Food Supplies Expense 181 Fishing Boats 525 Phone Expense 181.1 Accum. Depr.Fishing Boats 533 Utilities Expense 182 Surround Sound System 535 Insurance Expense 182.1 Accum. Depr.Surround Sound Sys. 536 Postage Expense 183 Big Screen TV 537 Repair Expense 183.1 Accum. Depr.Big Screen TV 540 Depr. Exp.Buildings Liabilities 541 Depr. Exp.Surround Sound Sys. 202 Accounts Payable 542 Depr. Exp.Fishing Boats 219 Wages Payable 543 Depr. Exp.Big Screen TV 546 Satellite Programming Exp. Owners Equity 548 Subscriptions Expense 311 Bob Night, Capital 312 Bob Night, Drawing 313 Income Summary May 1 In order to provide snacks for guests on a 24-hour basis, Night signed a contract with Snack Attack. Snack Attack will install vending machines with food and drinks and pay a 10% commission on all sales. Estimated payments are made at the beginning of each month. Night received a check for $200, the estimated commission on sales for May. 2 Night purchased a surround sound system and big screen TV with a digital satellite system for the guest lounge. The surround sound system cost $3,600 and has an estimated useful life of five years and no salvage value. The TV cost $8,000, has an estimated useful life of eight years, and has a salvage value of $800. Night paid cash for both items. 2 Paid for Mays programming on the new digital satellite system, $125. 3 Nights office manager returned $100 worth of office supplies to Gordon Office Supply. Night received a $100 reduction on the account. 3 Deposited registration fees, $52,700. 3 Paid rent for lodge and campgrounds for the month of May, $40,000. 3 In preparation for the purchase of a nearby campground, Night invested an additional $600,000. 4 Paid Gordon Office Supply on account, $400. 4 Purchased food supplies from Acme Super Market on account, $8,200. 4 Purchased the assets of a competing business and paid cash for the following: land, $100,000; lodge, $530,000; and fishing boats, $9,000. The lodge has a remaining useful life of 50 years and a $50,000 salvage value. The boats have remaining lives of five years and no salvage value. 5 Paid Mays insurance premium for the new camp, $1,000. (See above transaction.) 5 Purchased food supplies from Acme Super Market on account, $22,950. 5 Purchased office supplies from Gordon Office Supplies on account, $1,200. 7 Night paid $40 each for one-year subscriptions to Fishing Illustrated, Fishing Unlimited, and Fish Master. The magazines are published monthly. 10 Deposited registration fees, $62,750. 13 Paid wages to fishing guides, $30,000. (Dont forget wages payable.) 14 A guest became ill and was unable to stay for the entire week. A refund was issued in the amount of $1,000. 17 Deposited registration fees, $63,000. 19 Purchased food supplies from Acme Super Market on account, $18,400. 21 Deposited registration fees, $63,400. 23 Paid $2,500 for advertising spots on National Sports Talk Radio. 25 Paid repair fee for damaged boat, $850. 27 Paid wages to fishing guides, $30,000. 28 Paid $1,800 for advertising spots on billboards. 29 Purchased food supplies from Acme Super Market on account, $14,325. 30 Paid utilities bill, $3,300. 30 Paid phone bill, $1,800. 30 Paid Acme Super Market on account, $47,350. 31 Bob Night withdrew cash for personal use, $7,500. Required: