The following independent events for Carla Vista Theatre Ltd. during the year ended November 30, 2021, require a transaction journal entry or an adjusting journal entry, or both. The company adjusts its accounts annually. 1. On June 1, 2021, the theatre purchased vehicles for $76,000 cash. The vehicles' estimated useful life is five years and the company uses straight-line depreciation. 2. 3. 4. 5. The theatre has eight plays each season. This year's season starts in October 2021 and ends in May 2022 (one play per month). Season tickets sell for $340. On October 1, 400 season tickets were sold for the 2021-2022 season. The theatre credited Deferred Revenue for the full amount received on October 1 and uses a Ticket Revenue account to record revenue earned from season tickets. Supplies on hand amounted to $980 at the beginning of the year. On February 16, additional Supplies were purchased for cash at a cost of $1,940. At the end of the year, a physical count showed that supplies on hand amounted to $540. On June 1, 2021, the theatre borrowed $92,000 from the Bank of Montreal at an interest rate of 6%. The principal is to be repaid in one year. The interest is payable on the first day of each following month, and was last paid on November 1. The Carla Vista Theatre rents a portion of its facilities for $390 a month to a local dance club that uses the space for rehearsals. On November 2, the dance club's treasurer made a mistake and accidentally sent a cheque for only $170 for the November rent. (Hint: Use the Deferred Revenue account to record the rent received in advance.) The dance club's treasurer ENG US