E4-3 (Algo) Recording Initial Transactions and Subsequent Adjustments [LO 4-1, LO 4-2] 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 $15,000. b. On September 1 , received $42,000 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 $2.000, 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. 2 Prepare the adjusting journal entries, if any, required on September 30 Complete this question by entering your answers in the tabs below. 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 $15,000. Notei Enter debits before credts. E4-3 (Algo) Recording Initial Transactions and Subsequent Adjustments [LO 4-1, LO 4-2] During the month of September, the Texas Go-Kart Company had the following business activities: 3. On September 1, paid rent on the track facility for six months at a total cost of $15,000. b On September 1, received $42.000 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 $2000, 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 2. Prepare the adjusting journal entries, if any, required on September 30. Complete this question by entering your answers in the tabs below. Prepare the joumal entry, if any, required to record each of the initial business activities on September 1 . (II no entry is required for a uanaaction/event, select, "No Joumal Entry Required" in the first account fieid.) Journal entry worksheet Record the hiring of a new manager at a monthly salary of $2,000, to be paid the first Monday following the end of the month. E4-3 (Algo) Recording Initial Transoctions and Subsequent Adjustments [LO 4-1, LO 4-2] During the month of September, the Texas Go-Kart Company had the following business activities: a. On September 1. paid rent on the Uack facility for six months at a total cost of $15,000, b. On September 1, received $42,000 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 or $2.000, 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 2 Prepare the adjusting journal entries, if any, required on September 30. Complete this question by entering your answers in the tabs below. 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 transactionfevent, select "No Journat Entry Reguired" in the first account field.) Journal entry worksheet Record the receipt of $42,000 for season tickets for 12 -month admission to the race track E4-3 (Algo) Recording Initial Transactions and Subsequent Adjustments [LO 4-1, LO 4-2] 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 $15,000. b. On Seplember 1 , received $42,000 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, 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 $2,000, 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. 2 Prepare the adjusting journal entries, if any, required on September 30 . Complete this question by entering your answers in the tabs below. Prepare the adjusting journal entries, if any, required on September 30 . (If no entry is required for a transactionvevent, select "Wo Journal Entry Required" in the first account field.? Journal entry worksheet Record the adjusting entry for the receipt of $42;000 for season tickets for 12 month admission to the race track. Note: Enter detitt before credits. 4-3 (Algo) Recording Initial Transactions and Subsequent Adjustments [LO 4-1, LO 4-2] uring the month of September, the Texas Go-Kart Company had the following business activities: On September 1, paid rent on the track facility for six months at a total cost of $15,000. On September 1 , received $42,000 for season tickets for 12 -month admission to the race track. be paid in the following month. The organization uses the track on September 30 , On September 1, hired a new manager at a monthly salary of $2,000, to be paid the first Monday following the end of the month lequired: 1. Prepare the journal entry, if any, required to record each of the initial business activities on September 1. 2. Prepare the adjusting journal entries, if any, required on September 30 Complete this question by entering your answers in the tabs below. Prepare the fournal 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 Joumal Entry Required" in the first account field.) Journal entry worksheet Record the booking of 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. E4-3 (Algo) Recording Initial Transoctions and Subsequent Adjustments [LO 4-1, LO 4-2] 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 $15,000 b. On September 1, received $42,000 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, 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 $2,000, 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 2 Prepare the adjusting joumal entries, if any, required on September 30. Complete this question by entering your answers in the tabs below. Prepare the adjusting journal entries, if any, required on September 30 . (If no entry is required for a transaction/event, select "Wo Joumal Entry Required" in the first account field.) Journal Entry Required" in the first account field.) Journal entry worksheet E4-3 (Algo) Recording Initial Transactions and Subsequent Adjustments [LO 4-1, LO 4-2] 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 $15,000. b. On September 1, received $42,000 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 \$2000, 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. 2. Prepare the adjusting journal entries, if any, required on September 30 . Complete this question by entering your answers in the tabs below. Prepare the adjusting journal entries, if any, required on September 30. (if no entry is required for a transaction/event, select "No Joumal Entry Required" in the first account field.) Journal entry worksheet Fecord the adjusting entry for the hiring a new manager at a monthly salary of $2,000, to be paid the first Monday following the end of the month. E4-3 (Algo) Recording Initial Transactions and Subsequent Adjustments [LO 4-1, LO 4-2] During the month of September, the Texas Go Kart Company had the following business activities: a. On Seplember 1, paid rent on the track facility for six months at a total cost of $15,000 b. On September 1, received $42,000 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 $2,000, 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 . 2 Prepare the adjusting joumal entries, if any, required on September 30. Complete this question by entering your answers in the tabs below. Prepare the adjusting journal entries, if any, required on September 30. (If no entry is required for a transaction/event, select /No Joumal Entry Required" In the first account field.) Journal entry worksheet 4 Record the adjusting entry for the payment of rent on the track facility for six monthis at a total cost of $15,000