During the month of September, the Texas Go-Kart Company had the following busin

Question

During the month of September, the Texas Go-Kart Company had the following business activities a. On September 1, paid rent on the track facility for six months at a total cost of $15,000 b. On September 1, received $42,000 for season tickets for 12-month admission to the race track. c On September 1, booked the race track for a private organization that will use the track one day per month for $2,500 each time, to be paid in the following month. The organization uses the track on September 30 d. On September 1, hired a new manager at a monthly salary of $2,000, to be paid the first Monday following the end of the month. Required 1. Prepare the journal entry, if any, required to record each of the initial business activities on September 1 2. Prepare the adjusting journal entries, if any, required on September 30 Complete this question by entering your answers in the tabs below Required 1Required 2 Prepare the journal entry, if any, required to record each of the initial business activities on September 1. (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 4 Record the payment of rent on the track facility for six months at a total cost of $15,000 Note: Enter debits before credits Date General Journal Debit Credit September 01 Record entry Clear entry View general journal Required 1 Required 2>

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Date Title Debit Credit a Sep-01 Prepaid rent $ 15,000 Cash $ 15,000 (Paid advance rent for six months) b Sep-01 Cash $ 42,000 Unearned revenue $ 42,000 (To record season ticket 12 months advance) c Sep-01 No entry required for booking d Sep-01 No entry required for hiring employees

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