Required:

Journalize the transactions.

Carla Vista Adventure Park Inc. operates a number of adventure parks across Canada. The company is expecting to open its latest park on June 1. The following selected events and transactions occurred during the month of April: April 1 2 5 10 15 17 21 25 29 30 31 Borrowed $2,200,000 from a bank, signing a bank loan due in six months plus 5% interest. Purchased a park location for $2,350,000. The price included land of $1,200,000; building of $850,000; and trail maintenance equipment of $300,000. Paid cash of $950,000 and signed a mortgage payable for the balance. Paid $4,700 for advertising to promote the upcoming opening of the new adventure park. Received $150,000 in cash for annual subscriptions which will grant holders annual access to the new park beginning in June. Paid salaries of $9,700. Purchased equipment for $55,000. Paid $27,000 in cash and the balance on account. Paid utility costs of $11,000. Paid $11,160 for one-year insurance policy with coverage beginning next month. Paid property taxes of $1,200. Paid the balance for the equipment purchased on April 17. Paid interest on the mortgage payable of $3,500.