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During the month of September, the Texas Go-Kart Company had the following business activities: a- On September 1, paid rent on the track facility for
During the month of September, the Texas Go-Kart Company had the following business activities: a- On September 1, paid rent on the track facility for six months at a total cost of $13,800. b. On September 1, received $58,800 for season tickets for 12-month admission to the race track. c. On September 1, booked the race track for a private organization that will use the track one day per month for $2,500 each time, to be paid in the following month. The organization uses the track on September 30. d. On September 1, hired a new manager at a monthly salary of $3,400, to be paid the first Monday following the end of the month. Required: 1. Prepare the journal entry, if any, required to record each of the initial business activities on September 1. (If no entry is required for a transaction/event, select ''No Journal Entry Required'' in the first account field.) Journal Entry Worksheet Record the payment of rent on the track facility for six months at a total cost of $13,800. Transaction General Journal Debit Credit 2. Prepare the adjusting journal entries, if any, required on September 30. (if no entry is required for a transaction/event, select ''No Journal Entry Required'' In the first account field.) Journal Entry Worksheet Record the payment of rent on the track facility for six months at a total cost of $13,800. Record the adjusting entry for the payment of rent on the track facility for six months at a total cost of $13,800
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