E4-3 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, paid rent on the track facility for six months at a total cost of $12,600. b. On September 1, received $39,600 for season tickets for 12-month admission to the race track. On September 1, booked the race track for a private organization that will use the track one day per month for $2100 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 $1,800, to be paid the first Monday following the end of the month. Required: 1. Prepare the journal entry, if any, required to record each of the initial business activities on September 1. 2. Prepare the adjusting journal entries, if any, required on September 30. 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.) Date General Journal Debit Credit September 01 Prepaid Rent 12,600 Cash 2,600 2 September 01 Rent Expense 39,600 Prepaid Rent 39,600 September 01 Cash 39,600 Deferred Revenue 39,600 4 September 01 Salaries and Wages Expense 1,800 Cash 1,800 Required 1 Required 2> Prev 1 of 11 Next > Required 2 Required Prepare the adjusting journal entries, if any, required on September 30. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Debit Credit No Date General Journal Required 2 KRequired 1