Reference no: EM132484545
Question - Prepare Journal Entry
The following transactions occurred during the month of December 2019:
Dec. 5 Paid accounts payable of $5,950.
Dec. 6 Paid movie rental of $7,500 in advance.
Dec. 6 Purchased supplies, $920, on account.
Dec. 7 Deposited $17,000 of admissions receipts.
Dec. 9 Unearned admissions revenue is for gift certificates purchased for admission into future shows. $580 more of these gift certificates were sold to a local church, for cash.
Dec. 10 Purchased $3,150 of concessions items on credit.
Dec. 12 Acquired additional equipment worth $24,000 by paying $500 cash and giving a long-term note payable for the balance.
Dec. 14 Paid wages of $15,200 for the period December 1 through 14.
Dec. 16 Paid for the supplies purchased on December 6.
Dec. 17 Purchased $1,900 of supplies on credit.
Dec. 19 Sold 500 shares of $10 par value common stock for $10 a share.
Dec. 21 Deposited $21,750 from concessions sales and $11,660 of admissions receipts.
Dec. 24 Paid $1,500 for repairs to roof and marquee for weather damage.
Dec. 25 Purchased $9,200 of concessions items on account.
Dec. 27 Paid for the supplies purchased Dec. 17.
Dec. 28 Paid wages of $16,720 for the period December 15 through 28.
Dec. 30 Paid $2,400 to newspaper for advertisements that appeared in December.
Dec. 31 Deposited $22,000 from admissions receipts and $18,850 from concessions sales.
Dec. 31 Declared and paid the annual dividend, amounting to $6,600.