Rocky owns and operates Balboa's Gym located in Philadelphla. The following transactions occur for the month of October: 1. October 2 Feceive mtabership dues for the month of october totaling $8,500. 2. Octoben 5 Tssue conson stock in exchange for cash, $12,060. 1. October 9 purchase additional boxing equipent for $9,600, paying one-half of the anount in cash and issuing a note payable to the soller for the other one balf due by the end of the year. 4. October 12 Pay $1,500 for adventising regarding a special menteritip rate wailable during the nonth of october. 5. October 19 Pay dividends to stockholders. $4,400. 6. October 22 Pay liability insurance to cover accidents to mibbers for the next six months, starting hovenber 1, 56,900 . 7. October 25 Receive cash in advance for Woveaber mentserships, $5,600. 8. Octaber 30 Recelve, but do not pay, utilities bill fon the month, $5,290. 9. October 31 Pay emplopees' salaries for the month, $7,300. Required: 1. Record each transaction. 2. Identify the transactions involving cash. 3. Assume the balance of cash at the beginning of October is $16,600. Post each cash transaction to the Cash Faccount. 4. Prepare a statement of cash flows for the month of October, properly classifyling each of the cash transactions into operating. investing. and financing activities. Assume that the balance of cash at the beginning of October is $16,600. Complete this question by entering your answers in the tabs below. Record each transaction. (If no entry is required for a transaction/event, select "No lournal Entry hequired" in the first account tiosd.) Journal entry worksheet Record each transaction. (If no entry is required for a transaction/event, sele 1 Record receipt of membership dues for the month of October totaling $8,500. 2 Record issuance of common stock in exchange for cash, $12,000. 3 Record purchase of 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 Recorflimpayment of $1,500 for advertising regarding a special membership rate available during the month of October. c. Domord nowmont of dividande tn etnrthalatare \&A Ann Note: =journal entry has been entered Complete this question by entering Record each transaction. (If no entry is required for a transaction/event, select "No Jou 5 Record payment of dividends to stockholders, $4,400. 6. Record payment of liability insurance to cover accidents to members for the next six months, starting November 1,$6,900 7 Record receipt of cash in advance for November memberships, $5,600. Credit 8 Record receipt, but not payment of, the utilities bill for the month, $5,200. 9 Record payment of employees' salaries for the month, $7,300. Note: = journal entry has been entered Required: 1. Record each transaction. 2. Identify the transactions involving cash. 3. Assume the balance of cash at the beginning of October is $16,600. Post each cash transaction to the Cash T-ace 4. Prepare a statement of cash flows for the month of October, properly classifying each of the cash transactions int investing, and financing activities. Assume that the balance of cash at the beginning of October is $16,600. Complete this question by entering your answers in the tabs below