P3-7 Recording Journal Entries and Identifying Cash Flow Effects LO3-4 [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 parks, three outdoor water parks, one indoor water park, and five hotels. The parks include Cedar Point in Ohio, Valleyfair near Minneapolis/St. Paul, Dorney Park and Wildwater Kingdom near Allentown, Pennsylvania, Worlds of Fun in Kansas City, Great America in Santa Clara, California, and Canada's Wonderland near Toronto, Canada, among others. The following are summarized transactions similar to those that occurred in a recent year. Dollars are in thousands: a. Guests at the parks paid $681,042 cash in admissions. b. 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. c. Cedar Fair paid $52,200 principal on long-term notes payable. d. The parks sells merchandise in park stores. The cash received during the year for sales was $433,693. The cost of the inventory sold during the year was $109,057 e. Cedar Fair purchased and built additional rides and other equipment during the year, paying $105,490 in cash. f. Guests may stay in the parks at accommodations owned by the company. During the year, accommodations revenue was $96,594; $94,605 was paid by the guests in cash and the rest was owed on account. g. Interest incurred and paid on long-term debt was $187,326. h. The company purchased $173,031 in inventory for the park stores during the year, paying $139,831 in cash and owing the rest on account. i. Advertising costs for the parks were $165,926 for the year; $152,744 was paid in cash, and the rest was owed on account. J. Cedar Fair paid $15,000 on accounts payable during the year. Journal entry worksheet Record d in revenue collected of $631,042 enerala Ratonces Worksheet tyd P3-4 Part 1 Learning O ve: 03-54 Check my work 10:00 points P3-7 Part 2 2. Use the following chart to identify whether each transaction results in a cash flow effect from operating (O), investing (1), or financing (F) activities, and indicate the direction and amount of the effect on cash + for increase and for decrease). The first transaction is provided as an example. (Select "NE" if there is no effect.) (Enter your answers in thousands, not in dollars.)