For each of the transactions in M3-3, write the journal entry in good form.

M3-3

Craig's Bowling Inc. operates several bowling centres (for games and equipment sales). The following transactions occurred in November 2017. If revenue is to be recognized in November, indicate the account title and amount of revenue. If revenue is not to be recognized in November, explain why.

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Activity Account Title and Amount of Revenue a. Craig's collected $15,000 from customers for games played in November. b. Craig's sold bowling equipment inventory for $8,000; received $3,000 in cash and the rest on account. c. Craig's received $4,000 from customers on account who purchased merchandise in October. d. The men's and ladies' bowling leagues gave Craig's a deposit of $2,500 for the upcoming fall season.