The Davis Music Hall had the following transactions during the year ended December 31, 2020.

The Davis Music Hall provides musical performances to the public for an admission fee.

Transaction # 1:Contracted with the Boston Symphony to preform at the music hall during April and May 2020. As part of the contract the Davis Music Hall had to provide the Boston Symphony with a down payment on the fees of $40,000. What entry, if any, would the Davis Music Hall need to make to record the down payment to the Boston Symphony.

ACCOUNT NAMEDR.CR.

Transaction # 2: Received $22,500 in admission fees from the public for the first two weeks of performances by a local youth choir. All $22,500 was received in cash. What entry, if any, would the Davis Music Hall need to make to record the admission fees received from patrons of the music hall.

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Transaction # 3:paid employee salaries of $8,000 in cash. What entry, if any, would the Davis Music Hall need to make to record the payment of the salaries to their employees.

ACCOUNT NAMEDR.CR.

Transaction # 4: Received $50,000 in admission fees from the public for the first two weeks of the Boston Symphony. All $50,000 was received in cash. What entry, if any, would the Davis Music Hall need to make to record the admission fees received from patrons of the music hall.

ACCOUNT NAMEDR.CR.

Transaction # 5: Received an invoice from JK Reality for $5,000. The $5,000 is a charge for music hall rental. The rent period was for the month of April 2020. The Davis music hall will pay the invoice to JK Reality on May 30, 2020.What entry, if any, would the Davis Music Hall need to make to record the recording of the invoice from JK Reality for renting space in the music hall.

ACCOUNT NAMEDR.CR.

Transaction 6:Thomas Corporation purchased a new delivery truck for $10,000 and borrowed $10,000 from the First Bank of Memphis. The $10,000 loan to First Bank of Memphis is expected to be paid back within one year.

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Transaction 7:Thomas Corporation paid a vendor for goods purchased previously in the amount of $5,000.

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Transaction 8:Thomas Corporation made its first payment on the loan provided by First Bank of Memphis in the amount of $500.

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