Would appreciate help on this The following ledger accounts are used by the Chic

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Would appreciate help on this

The following ledger accounts are used by the Chicago Heights Dog Track:
Accounts Receivable Printing Expense
Prepaid Printing Rent Expense
Prepaid Rent Admissions Revenue
Unearned Admissions Revenue

For each of the following transactions below, prepare the journal entry (if one is required) to record the initial transaction and then prepare the adjusting entry, if any, required on September 30, the end of the fiscal year.

1. On September 1, paid rent on the track facility for three months, $225,000.
2. On September 1, sold season tickets for admission to the racetrack. The racing season is year-round with 25 racing days each month. Season tickets totaled $840,000.
3. On September 1, borrowed $200,000 from First National Bank by issuing a 9% note payable due in three months.
4. On September 5, schedules for 20 racing days in September, 25 racing days in October, and 15 racing days in November were printed for $3,000.

Explanation / Answer

1. Prepaid Rent 225,000 debit Cash 225,000 credit 2.Cash 840,000 debit Unearned revenue 840,000 credit 3.Cash 200,000 debit Notes Payable 200,000 credit 4. Printing Expence 3000 debit Cash 3000credit No adj entries require on Sep 30

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