P3-7 Recording Journal Entries and Identifying Cash Flow Effects L03-4 The following information applies to the questions displayed below) Cedar Fair. L.P. Limited Partnership is one of the largest regional amusement park operators in the world, owning eleven amusement parts, three outdoor water parks, one indoor water park, and five hotels. The parks include Cedar Point in Ohio, Valleyfol near MinneapolisSt. Paul Domey Park and Wildwater Kingdom near Allentown, Pennsylvania, Worlds of Fun in Kansas City, Great America in Santa Clara, Cidonia, and Canada's Wonderland near Toronto, Canada, among others. The following we summarized transactions similar to those that occurred in a recent year. Dollars are in thousands Guests at the parks paid $581042 cash in admissions The primary operating expenses for the year were employee wages of $501.416, with $469.630 paid in cash and the rest to be paid to employees in the following year. Ceca Fair paid $52.200 al on long term notes payable d. The parks sells merchandise in park stores. The cath received during the year for sales was 5433603. The cost of the inventory Bold during the year was $109.057. Cedar Fair purchased and built additional des and other equipment during the paying $105.490 inch Guests may stay in the Darkes ut accommodations owned by the company. During the year accommodations revenue was $96.594594605 wis paid by the guests in cash and the rest was owed an account estirred and dong term two 22326 The company purchased $173.031 in inventory for the park or during the year paying 09.831 in cash and owing the rest on account Advertising costs for the parts were $165.920 for the year 15244 was paid in cash and the rest was owed on account Cedar Fax paid $15.000 on accounts payable during the year g References Section Break 3. Rednom 03 Required: 1. For each of these transactions, record journal entries. Use the letter of each transaction as its reference. Note that transaction (d) will require two entries, one for revenue recognition and one for the related expense. (If no entry is required for a transaction event, select "No journal entry required in the first account field. Enter your answers in thousands not in dollars.) View transaction list Journal entry worksheet 2 3 4 5 6 7 8 11 Record admission revenue collected of $681,042 Notar det before credits To General Journal Record entry Clear entry View gener a l E4-8 Part 2 or the entry ined for a transaction event, select 2. Prepare the adjusting entries that should be recorded for Dittman's Variety Store at December 31 of the current "No journal entry required in the first account field.) View transaction list Journal entry worksheet Wages earned by employees during December, unpaid and unrecorded at December 31, amounted to $4,600. The last payroll was December 28; the next payroll will be January 6. Note: Inter debits before credits Transaction Gener View general journal Record entry Clear entry P3-7 Recording Journal Entries and Identifying Cash Flow Effects L03-4 The following information applies to the questions displayed below) Cedar Fair. L.P. Limited Partnership is one of the largest regional amusement park operators in the world, owning eleven amusement parts, three outdoor water parks, one indoor water park, and five hotels. The parks include Cedar Point in Ohio, Valleyfol near MinneapolisSt. Paul Domey Park and Wildwater Kingdom near Allentown, Pennsylvania, Worlds of Fun in Kansas City, Great America in Santa Clara, Cidonia, and Canada's Wonderland near Toronto, Canada, among others. The following we summarized transactions similar to those that occurred in a recent year. Dollars are in thousands Guests at the parks paid $581042 cash in admissions The primary operating expenses for the year were employee wages of $501.416, with $469.630 paid in cash and the rest to be paid to employees in the following year. Ceca Fair paid $52.200 al on long term notes payable d. The parks sells merchandise in park stores. The cath received during the year for sales was 5433603. The cost of the inventory Bold during the year was $109.057. Cedar Fair purchased and built additional des and other equipment during the paying $105.490 inch Guests may stay in the Darkes ut accommodations owned by the company. During the year accommodations revenue was $96.594594605 wis paid by the guests in cash and the rest was owed an account estirred and dong term two 22326 The company purchased $173.031 in inventory for the park or during the year paying 09.831 in cash and owing the rest on account Advertising costs for the parts were $165.920 for the year 15244 was paid in cash and the rest was owed on account Cedar Fax paid $15.000 on accounts payable during the year g References Section Break 3. Rednom 03 Required: 1. For each of these transactions, record journal entries. Use the letter of each transaction as its reference. Note that transaction (d) will require two entries, one for revenue recognition and one for the related expense. (If no entry is required for a transaction event, select "No journal entry required in the first account field. Enter your answers in thousands not in dollars.) View transaction list Journal entry worksheet 2 3 4 5 6 7 8 11 Record admission revenue collected of $681,042 Notar det before credits To General Journal Record entry Clear entry View gener a l E4-8 Part 2 or the entry ined for a transaction event, select 2. Prepare the adjusting entries that should be recorded for Dittman's Variety Store at December 31 of the current "No journal entry required in the first account field.) View transaction list Journal entry worksheet Wages earned by employees during December, unpaid and unrecorded at December 31, amounted to $4,600. The last payroll was December 28; the next payroll will be January 6. Note: Inter debits before credits Transaction Gener View general journal Record entry Clear entry