Rocky owns and operates Balboa's Gym located in Philadelphia. The following transactions occur for the month of October 1. October 2 Receive membership dues for the month of October totaling $8,500. 2. October 5 Issue common stock in exchange for cash, $12,000. 3. October 9 Purchase additional boxing equipment for $9,600, paying one-half of the amount in cash and issuing a note payable to the seller for the other one-half due by the end of the year. 4. October 12 Pay $1,500 for advertising regarding a special membership rate available during the month of October. 5. October 19 Pay dividends to stockholders, $4,400. 6. October 22 Pay liability insurance to cover accidents to members for the next six months, starting November 1, $6,900. 7. October 25 Receive cash in advance for November memberships, $5,600. 8. October 30 Receive, but do not pay, utilities bill for the month, $5,200. 9. October 31 Pay employees' salaries for the month, $7,300. Problem 4-5A Part 1 Required: 1. Record each transaction(If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record receipt of membership dues for the month of October totaling $8,500. Note: Enter debits before credits. Date General Journal Debit Credit October 02 Record entry Clear entry View general Journal