Pikes Peak is a ski resort in upstate New York. The company sel's lift tickets, ski lessons, and ski equipment. it operates severa! restaurants and rents townhouses to vacationing skiers. The following hypothetical December transactions are typical of those that occur at the resort. a. Borrowed $745,000 from the bank on December 1 signing a note payable, due in six months. b. Purchased a new snowplow for $27,500 cash on December 31 c. Purchased ski supplies for $14,300 on account. d. Incurred $31,800 in routine maintenance expenses for the chairlifts; paid cash. e. Received $74,500 for season passes (beginning in the new yoar) 6 Daily lift passes were sold this month for a total of \$84,200 cash. g. Received a $520 deposit on a townhouse to be rented for five days in January. h. Paid half the charges incurred on account in (c) 6 Incurred and paid \$2,2,300 in wages to employees for the month of December. Required: 1. Prepare accrual bosis joumal entries for each transaction. 2. Calculate the compony's preliminary net income. Complete this question by entering your answers in the tabs below. Journal entry worksheet Borrowed $745,000 from the bank on December 1 , signing a note payable, due in six months. Record the transaction. Note: Enter debits before credits