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The following transactions are May activities of Hole-Lot-of Fun Inc., which operates mini- golf centers, offering mini-golf games and merchandise for sale. a. Hole-Lot-of-Fun collected
The following transactions are May activities of Hole-Lot-of Fun Inc., which operates mini- golf centers, offering mini-golf games and merchandise for sale. a. Hole-Lot-of-Fun collected $14,200 from customers for games played in May. b. Hole-Lot-of-Fun sold mini-golf merchandise inventory from its gift shop for $8,500; received $2,300 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.] c. Hole-Lot-of-Fun received $1,500 from customers who purchased merchandise in April on account. d. The Mini Golf club of the Merrimack Valley gave Hole-Lot-of-Fun a deposit of $3,100 for the upcoming fall season. Prepare the journal entry for the above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 > Hole-Lot-of-Fun collected $14,200 from customers for games played in May. Note: Enter debits before credits. General Journal Debit Credit Transaction a Record entry Clear entry View general journal Journal entry worksheet Hole-Lot-of-Fun sold bowling merchandise inventory from its pro shop for $8,500; received $2,300 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.] Note: Enter debits before credits. General Journal Debit Credit Transaction b Record entry Clear entry View general journal Journal entry worksheet Hole-Lot-of-Fun received $1,500 from customers who purchased merchandise in April on account. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet The Mini Golf Club of the Merrimack Valley gave Hole-Lot-of-Fun a deposit of $3,100 for the upcoming fall season. Note: Enter debits before credits. General Journal Debit Credit Transaction d Record entry Clear entry View general journal
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