Question

Please help with the following:

Journalize the following transactions.

Sunny World Travel is a company that sells tour packages to customers. Assume that the company does not refund packages if canceled within 30 days of travel.

May 1^st, 2017. Patrick Smith purchased a tour package from Sunny World Travel to visit Bermuda on September 26^th, 2017. The package included hotel, attractions, and transportation. The final price for the package was $2275, and Patrick paid cash.

August 12^th, 2017. Sunny World Travel contacted its vendors to reserve and prepay for Patrick’s reservation. The company paid $650 to Hotel Sunset Beach, $480 to Transportation Bermuda, and $550 to Fun Attractions Inc.

September 26^th, 2017. Patrick traveled to Bermuda to enjoy his vacation.

Answer 1