Need help breaking down these transactions and understanding what is debit and what is credit for these transactions.

August 1 Pay the July accrued interest to the bank. Also make a $40,000 payment on the

bank note principal.

August 5 Sunhurst Country Club, LLC paid its outstanding accrued July payroll of $7,000 plus

an additional $1,000 for salaries incurred between August 1 and August 5.

August 7 Sunhurst Country Club, LLC paid the outstanding accounts payable at July 31, 2019.

Since no purchase discounts were available, the full amount owed was paid.

Total Rental Fees for golf clubs, carts, etc collected in cash for the month were $24,500.

Total Green Fee revenues collected in cash for the month were $211,000.

The golf course had 25 more people sign up for Golf lessons beginning the first week of September. The cost remains $650 for six weeks of lessons.

Golf course maintenance expenses for the month of August paid in cash were $127,500.

Total Salary Expenses for the month of August was $12,000; of that amount $9,000 was paid during the month of August and the remaining $3,000 will be paid next month.

Total Utility Expense (water, sewer, electrical) was paid in cash for $45,100.

Accrue the interest for the month of August on the Note Payable. Since the note was paid down $40,000 on August 1st, the interest calculation is based on the new outstanding principal at the end of August. (To calculate the interest, use the new outstanding principal balance and calculate the new interest expense using the 6% interest rate. (Round calculation to the nearest dollar).

Recognize the revenue earned from the lessons taught during August for the lessons paid for in July. Remember you collected golf lesson fees in July for lessons that began in August. (Four weeks of the July lessons were taught in August so recognize 4 weeks worth of revenue out of the 6 total weeks). Use the Golf Lesson Revenue account with this transaction.

Sunhurst Country Club, LLC had additional golf course maintenance expenses of $13,500 at the end of August to be paid in September.

Adjust Prepaid Insurance for the amount used in August.

1. Outstanding checks totaled $925

2. The bank had issued a $1,600 debit memo for three insufficient funds (NSF)

checks.

3. The bank statement enclosures included a debit memo for $35 that had been deducted from the Sunhurst Country Club, LLC account to pay for service charges. Record the $35 charge to Bank Service Charges in the general ledger.

4. The bank statement showed a check was written for $400. The check register

showed that Sunhurst Country Club, LLC had recorded the check as $40. It should have been recorded on Sunhurst Country Club, LLCs books for $400. The check was written for utility expenses.

5. Deposits in transit were $1,450.