Question
The following transactions are July activities of Bennetts Bowling, Inc., which operates several bowling centers, offering customers lanes for games and merchandise for sale. Bennetts
The following transactions are July activities of Bennetts Bowling, Inc., which operates several bowling centers, offering customers lanes for games and merchandise for sale. Bennetts collected $14,800 from customers for games played in July. Bennetts sold bowling merchandise inventory from its pro shop for $8,100; received $2,400 in cash and customers owed the rest on account. [Consider only the effect on revenue here. Do not consider cost of goods sold for this question.] Bennetts received $3,400 from customers who purchased merchandise in June on account. The mens and ladies bowling leagues gave Bennetts a deposit of $2,800 for the upcoming fall season. Prepare the journal entry for the above transactions.
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