Enchanted Forest, a large campground in South Carolina, adjusts its accounts monthly. Most quests of the campground they check out, and the amounts collected are credited to Camper revenue. The following information is available as as preparing the adjusting entries at December 31 References 1. Enchanted Forest invests some of its excess cash in certificates of deposit (CDs) with its local bank Accrued Interest its CDs at December 31 is $400. None of the interest has yet been received. (Debit interest receivable.) 2. A six-month bank loan in the amount of $12,000 had been obtained on September 1. Interest is to be computed at an of 8.5 percent and is payable when the loan becomes due. 3. Depreciation on buildings owned by the campground is based on a 25 year life. The original cost of the buildings wat The Accumulated Depreciation: Buildings account has a credit balance of $310,000 at December 31, prior to the adju process. The straight-line method of depreciation is used 4. Management signed an agreement to let Boy Scout Troop 538 of Lewisburg, Pennsylvania, use the campground in Ju year. The agreement specifies that the Boy Scouts will pay a daily rate of $15 per campsite, with a clause providing ai charge of $1,475 5. Salaries earned by campground employees that have not yet been paid amount to $1.250. 6. As of December 31, Enchanted Forest has earned $2.400 of revenue from current campers who will not be billed until out (Debit Camper revenue receivable) 7. Several lakefront campsites are currently being leased on a long-term basis by a group of senior citizens. Six months $5,400 was collected in advance and credited to Unearned Camper revenue on October 1 of the current year. 8. A bus to carry campers to and from town and the airport had been rented the first week of December at a daily rate of December 31, no rental payment has been made, although the campground has had use of the bus for 25 days 9. Unrecorded Income taxes expense accrued in December amounts to $8,400. This amount will not be paid until Janua Required: a. For each of the above numbered paragraphs, prepare the necessary adjusting entry. c. Indicate the effects that each of the adjustments in part a will have on the following six total amounts in the campground statements for the month of December. Organize your answer in tabular form, using the column headings shown. Use the increase, D for decrease, and NE for no effect. Adjusting entry 1 is provided as an example. d. What is the amount of Interest expense recognized for the entire current year on the $12,000 bank loan obtained Septe e. Compute the book value of the campground's buildings to be reported in the current year's December 31 balance sheet paragraph 3) Complete this question by entering your answers in the tabs below. Required A Required C Required D Required E Enchanted Forest, a large campground in South Carolina, adjusts its accounts monthly. Most quests of the campground they check out, and the amounts collected are credited to Camper revenue. The following information is available as as preparing the adjusting entries at December 31 References 1. Enchanted Forest invests some of its excess cash in certificates of deposit (CDs) with its local bank Accrued Interest its CDs at December 31 is $400. None of the interest has yet been received. (Debit interest receivable.) 2. A six-month bank loan in the amount of $12,000 had been obtained on September 1. Interest is to be computed at an of 8.5 percent and is payable when the loan becomes due. 3. Depreciation on buildings owned by the campground is based on a 25 year life. The original cost of the buildings wat The Accumulated Depreciation: Buildings account has a credit balance of $310,000 at December 31, prior to the adju process. The straight-line method of depreciation is used 4. Management signed an agreement to let Boy Scout Troop 538 of Lewisburg, Pennsylvania, use the campground in Ju year. The agreement specifies that the Boy Scouts will pay a daily rate of $15 per campsite, with a clause providing ai charge of $1,475 5. Salaries earned by campground employees that have not yet been paid amount to $1.250. 6. As of December 31, Enchanted Forest has earned $2.400 of revenue from current campers who will not be billed until out (Debit Camper revenue receivable) 7. Several lakefront campsites are currently being leased on a long-term basis by a group of senior citizens. Six months $5,400 was collected in advance and credited to Unearned Camper revenue on October 1 of the current year. 8. A bus to carry campers to and from town and the airport had been rented the first week of December at a daily rate of December 31, no rental payment has been made, although the campground has had use of the bus for 25 days 9. Unrecorded Income taxes expense accrued in December amounts to $8,400. This amount will not be paid until Janua Required: a. For each of the above numbered paragraphs, prepare the necessary adjusting entry. c. Indicate the effects that each of the adjustments in part a will have on the following six total amounts in the campground statements for the month of December. Organize your answer in tabular form, using the column headings shown. Use the increase, D for decrease, and NE for no effect. Adjusting entry 1 is provided as an example. d. What is the amount of Interest expense recognized for the entire current year on the $12,000 bank loan obtained Septe e. Compute the book value of the campground's buildings to be reported in the current year's December 31 balance sheet paragraph 3) Complete this question by entering your answers in the tabs below. Required A Required C Required D Required E