Peters Curling Inc. operates several curling centres for games and equipment sales. The following transactions...
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Accounting
Peters Curling Inc. operates several curling centres for games and equipment sales. The following transactions occurred in October of the current year:
- Peters collected $13,000 from customers for games played in October.
- Peters sold curling equipment inventory for $7,000; received $3,000 in cash and the rest on account; the cost of sales is $4,200.
- Peters received $2,500 from customers on account who purchased merchandise in September.
- The curling league gave Peters a deposit of $2,600 for the upcoming fall season.
- Peters paid $1,900 for the September electricity bill and received the October bill for $2,200, which will be paid in November.
- Peters paid $4,700 to employees for work in October.
- Peters purchased and paid $1,800 in insurance for coverage from October 1 to December 31.
- Peters paid $1,400 to plumbers for repairing a broken pipe in the washrooms.
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