Sheridan Marina has $200$ available slips that rent for $$800$ per season. Payments must be made in full by the start of the boating season, April $1,2024.$ The boating season ends October $31,$ and the marina has a December $31$ year end. Slips for future seasons may be reserved if paid for by December $31,2024.$ Under a new policy, if payment for $2025$ season slips is made by December $31,2024,$ a $4\%$ discount is granted. If payment for $2026$ season slips is made by December $31,2024,$ renters get a $17\%$ discount. $($Sheridan hopes this promotion will provide cash flow for major dock repairs.$)$

On December $31,2023,$ all $200$ slips for the $2024$ season were rented at full price. On December $31,2024,150$ slips were reserved and paid for the $2025$ boating season, and $70$ slips were reserved and paid for the $2026$ boating season.

$($a$)$

Prepare the appropriate journal entries for December $31,2023,$ and December $31,2024.($Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit entries.$)$

Date

Account Titles and Explanation

Cash

Unearned Rent Revenue

Unearned Rent Revenue

$($To record unearned revenue related to $2025$ season$)$

$($To record unearned revenue related to $2026$ season$)$

Debit

Credii

$\backslash$table$[[$Cash$],[$Unearned Rent Revenue$]]$

Unearned Rent Revenue

$($To record unearned revenue related to $2025$ season$)$

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