Prepare General Journal Entries to Record the Following Transactions $\$ 100,000$

question 43

Essay

Prepare general journal entries to record the following transactions.Omit the explanations after each entry.
Mar. 1 J. Lynch invested in a neighborhood movie house. Land, $\$ 100,000$ ; building, $\$ 400,000$ ; and equipment, $\$ 50,000$ ; totaling $\$ 550,000$ .
2 Rental expense for the movies shown for the month, $\$ 6,000$ on account.
5 Ticket sales for the month, $\$ 22,000$ cash.
8 Wages paid for the month, $\$ 11,000$ .
12 Purchased a new popcorn machine, $\$ 3,300$ on account.
17 Paid monthly fee to maintenance company, $\$ 2,700$ .
23 Rented the theater to an organization for a night. Billed them $\$ 2,300$ .
30 Paid $\$ 600$ on the amount owed for the new popcorn machine.

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Definitions:

Western Industrialized Countries

Nations in the Western Hemisphere that have advanced systems of production, transportation, and communication, characterized by a high standard of living.

Customer Service

Assistance and advice provided by a company to those people who buy or use its products or services.

Diversity Management

The strategic practice of acknowledging, valuing, and leveraging differences among people within an organization or community to achieve better outcomes.

Homogeneous Teams

Groups composed of members with similar backgrounds, skills, or characteristics.