Question

Silver Star Mountain Resort is a ski resort northeast of Vernon in British Columbia. Besides maintaining well-groomed ski runs

Answer 1

transaction	general journal	Debit	credit
a.	cash	560,000
	account payable		560,000
this is to record amount borrowed on bank
b.	snowplow/asset	26,000
	cash		26,000
this is to record purchase of equipment by cash
c.	supplies account	130,000
	account payable		130,000
this is to record purchase of supplies on credit
d.	expense account	28,000
	cash		28,000
this is to record payment of maintenance expenses by cash
e.	cash	84,000
	unearned revenue		84,000
this is to record revenue on season passes for the next year
f.	cash	88,000
	sales revenue		88,000
this is to record sales of passes on cash
g.	cash	380
	unearned revenue		380
to record income cash received in advance for rent
h.	account payable	6,500
	cash		6,500
to record payment of half cash of 6,500 on goods taken on credit
i.	wages expenses	19,200
	cash		19,200
this is to record payment of salaries expenses