LO 1, 2, 4 E2-19A. (Learning Objectives 1, 2, 4: Identify transactions, analyze impact on accounting equation, journalize transactions) Cedar Point is an amusement park in Sandusky, Ohio, owned by Cedar Fair Entertainment Company. Over 3.5 million people visit Cedar Point each year between May and October. It covers 364 acres and has more than 150 rides and attractions, including 16 roller coasters. Cedar Point is the second oldest continuously operating amusement park in the United States (the oldest is Lake Compounce in Connecticut.) Millions of events occur at Cedar Point each year. The following items are possible events: . May 1: Sell admission tickets, $100,000, cash May 3: Purchase merchandise inventory, $5,000, on account May 6: Rent lockers to guests, $500, cash May 8: Sign a letter of intent to switch electric suppliers starting in June May 15: Pay employees, $75,000, cash May 18: Make an offer of employment for a new position in the Merchandise & Games office May 20: Borrow money from bank by signing a six-month note, $200,000