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

Question 73

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 \$ 100,000 ; building, $400,000 \$ 400,000 ; and equipment, $50,000 \$ 50,000 ; totaling $550,000 \$ 550,000 .
2 Rental expense for the movies shown for the month, $6,000 \$ 6,000 on account.
5 Ticket sales for the month, $22,000 \$ 22,000 cash.
8 Wages paid for the month, $11,000 \$ 11,000 .
12 Purchased a new popcorn machine, $3,300 \$ 3,300 on account.
17 Paid monthly fee to maintenance company, $2,700 \$ 2,700 .
23 Rented the theater to an organization for a night. Billed them $2,300 \$ 2,300 .
30 Paid $600 \$ 600 on the amount owed for the new popcorn machine.

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