work Seved Help Pikes Peak is a ski resort in upstate New York. The company sells lift tickets, ski lessons, and ski equipment. It operates several restaurants and rents townhouses to vacationing skiers. The following hypothetical December transactions are typical of those that occur at the resort. a. Borrowed $820,000 from the bank on December 1, signing a note payable, due in six months. b. Purchased a new snowplow for $22,000 cash on December 31. c. Purchased ski supplies for $18,300 on account d. Incurred $32,000 in routine maintenance expenses for the chairlifts; paid cash. e. Received $91,500 for season passes (beginning in the new year). Daily lift passes were sold this month for a total of $82,800 cash. 9. Received a $620 deposit on a townhouse to be rented for five days in January. h. Paid half the charges incurred on account in (c). Incurred and paid $22,500 in wages to employees for the month of ecember. Required: 1. Prepare accrual basis journal entries for each transaction 2. Calculate the company's preliminary net income. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Pranam nhacie furnal entries for each trancartion rifnn antric raid for treatinnlevant clar "Ne tournal Entry Required" in the first account field.) View transaction list Journal entry worksheet Borrowed $820,000 from the bank on December 1, signing a note payable, due in six months. Record the transaction. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general Journal Prev 11 of 11 Next m View transaction list Journal entry worksheet Dally lift passes were sold this month for a total of $82,800 cash. Record the transaction. Note: Enter debits before credits. Transaction General Journal Debit Credit f. Record entry Clear entry View general Journal View transaction list Journal entry worksheet