The Rockford Rollers, a professional roller derby team, prepares financial statements on a monthly basis. The roller derby season begins in February, but in January, the team engaged in the following transactions: 1. Paid $1,500,000 to the Sunbury Skating Rink as advance rent for use of the facilities for the 6-month period from February 1 through July 31. This payment was initially recorded as Prepaid Rent. 2. Collected $4,860,000 cash from the sale of season tickets for the team's home games. The entire amount was initially recorded as Unearned Ticket Revenue. During the month of February, the team skated several home events at which $243,000 of the season tickets sold in January were used by fans.

The Tomac Swim Club arranged short-term financing of $13,000.00 on July 19 with the Bank of Commerce and secured the loan with a demand note. The club repaid the loan by payments of $6100 on September 13, $3200 on November 25, and the balance on December 30. Interest, calculated on the daily balance and charged to the club's current account on the last day of each month, was at 6% per annum on July 19. The rate was changed to 6.5% effective September 1 and to 5.5% effective December 1. How much interest was paid on the loan? The total interest paid was S (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

The Tomac Swim Club arranged short-term financing of $12,500 on July 20 with the Bank of Commerce and secured the loan with a demand note. The club repaid the loan by payments of $5,000 on September 15, $4,000 on November 10, and the balance on December 30. Interest, calculated on the daily balance and charged to the club's current account on the last day of each month (the separate interest method), was at 9.5% per annum on July 20. The rate was changed to 8.5% effective September 1 and to 9% effective December 1. How much interest was paid on the loan? July 31 Calculate the interest charged on July 31. August 31 Calculate the interest charged on August 31. September 31 Calculate the interest accrued to September 14. Calculate the new balance on September 15. Calculate the interest accrued to September 30. Calculate the interest charged on September 30. October 31 Calculate the interest charged on October 31. November 30 Calculate the interest accrued to November 9. Calculate the new…

Listed below are selected transactions of Splish Department Store for the current year ending December 31. On December 5, the store received $470 from the Selig Players as a deposit to be returned after certain furniture to be used in stage production was returned on January 15. 1. 2. 3. 4. During December, cash sales totaled $802.200, which includes the 5% sales tax that must be remitted to the state by the fifteenth day of the following month. On December 10, the store purchased for cash three delivery trucks for $121.600. The trucks were purchased in a state that applies a 5% sales tax The store sold 30 gift cards for $100 per card. At year-end, 25 of the gift cards are redeemed. Splish expects three of the cards to expire unused. Prepare all the journal entries necessary to record the transactions noted above as they occurred and any adjusting journal entries relative to the transactions that would be required to present fair financial statements at December 31. Date each entry.…