Recording Journal Entries vail Resorts Inc. owns and operates five premier year-round properties (vail Mountain, Beaver Creek Resort, Breckenridge Mountain and keystone Resort, all located in the Colorado Rocky Mountain Resort located in the Lake Tahoe area of California The company also owns a collection of luxury hotels resorts and lodging properties The company sells lift tickets ski lessons, and ski equipment. The following hypothetical December transaction are typical of those that occur at the resorts