E$4-3($Algo$)$ Recording Initial Transactions and Subsequent Adjustments $[$LO $4-1,$ LO $4-2]$

During the month of September, the Texas Go$-$Kart Company had the following business activities:

a$.$ On September $1,$ prepaid rent on the track facility for six month at a total cost $$13,800.$

b$.$ On September $1,$ received $$58,800$ in advance for season tickets for $12-$month admission to the race track.

c$.$ On September $1,$ booked the race track for a private organization that will use the track one day per month for $$2,500$ each time, to

be paid in the following month. The organization uses the track on September $30.$

d$.$ On September $1,$ hired a new manager at a monthly salary of $$3,400,$ to be paid the first Monday following the end of the month.

Required:

Prepare the journal entry, if any, required to record each of the initial business activities on September $1.$

Prepare the adjusting journal entries, if any, required on September $30.$

Complete this question by entering your answers in the tabs below.

Prepare the journal entry, if any, required to record each of the initial business activities on September $1.($If no entry is required for a

transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.$)$

Journal entry worksheet

$1$

$2$

$3$

$4$

Record the payment of prepaid rent on the track facility for six months at a

total cost of $$13,800.$

Note: Enter debits before credits.