E3-9 Recording Journal Entries and Determining Net Income [LO2, LO3) Silver See Mountain Resort is a ski resort northeast of Vernon in British Columbu. Besides maintaining well groomed ski runs, the company sellsit tickets, ski lessons, and ski equipment. It operates several restaurants and rents townhouses to vacationing skers. The following hypothetical December 2017 transactions are typical of those that occur at the resort a Borrowed $630,000 from the bank on December 1, signing a note payable due in six months b. Purchased a new snowplow for $33,000 cash on December 31 Purchased supplies for $16.500 on account d. Incurred 535.000 in routine maintenance expenses for the chairs, paid cash. e. Received $98.000 for season passes beginning in the new year) Sold daily passes this month for a total of $102,000 cash Received a $450 deposit on a townhouse to be rented for five days in January 2018 Paid half the charges incurred on account in ich Paid $20,600 in wages to employees for the month of December Required 1. Prepere journal entries for each of the above transaction of ne entry is required for a transaction/event, select "No journal entry required in the first account field) View transaction list Journal entry worksheet Borrowed 5630,000 from the bank on December 1, signing a note payable due in six months. Note: Enter debits before credits Transaction General Journal Debut Credit 1 Borrowed $630,000 from the bank on December 1, signing a note payable due in six months Book Note: Enter debits before credits Transaction General Journal int Debit Credit 3 nces Record entry Clear entry View general Journal 1-b. Calculate the company's preliminary net income Preliminary net income