M$4-9($Algo$)$ Preparing Journal Entries for Deferral Transactions and Adjustments $[$LO $4-2]$

Required:

For each of the following independent situations, prepare journal entries to record the initial transaction on September $30$ and the

adjustment required on October $31.($If no entry is required for a transaction$/$event$,$ select $"$No Journal Entry Required" in the first

account field.$)$

a$.$ Hockey Helpers paid $$4,200$ cash on September $30$ to rent an arena for the months of October and November.

b$.$ Super Stage Shows received $$16,200$ on September $30$ for season tickets that admit patrons to a theatre event that will be held

twice $($on October $31$ and November $30).$

c$.$ Risky Ventures paid $$3,150$ on September $30$ for insurance coverage for the months of October, November, and December.

Journal entry worksheet

$1$

Record the October $31$ adjusting entry for the September $30$ cash payment of

$$4,200$ to rent the arena for the months of October and November.

Note: Enter debits before credits.