2 1428 points Tony and Suzle are ready to expand Great Adventures even further in 2022. Tony believes that many groups in the community for example, Boy Scouts, church groups, clvic groups, and local businesses) would like to hold one day outings for their members Groups would engage in outdoor activities such as rock climbing, fishing, capture the flag, paintball, treasure hunts, scavenger hunts, nature hikes, and so on. The purpose of these one-day events would be for each member of the group to learn the importance of TEAM (Together Everyone Achieves More). Tony knows that most people are not familiar with these types of activities, so to encourage business he allows groups to participate in the event before paying. He offers a 5% quick-payment discount to those that pay within 10 days after the event. He also guarantees that at least eight hours of outdoor activities will be provided or the customer will receive a 20% discount. For the first six months of the year, the following activities occur for TEAM operations. Book Print References Jan. 24 Great Adventures parchases outdoor gear such as ropes, helmets, harnesses, compasses, and other incellaneous equipment for $5,000 cash. Feb. 25 Mr. Kendall Boy Scout troop participate in a one-day TEAM adventure. Normally, Tony would charge a group of this site $3,500, but he wants to encourage kids to exercise more and enjoy the outdoor so he charge the group only $3,000. Great Adventures provides there services on account. Feb. 28 The Boy Scout trop pays the full amount oved, less the 5 quick-payment discount. Mar. 19 Reynolda Management has its employees participate in a one-day TEAM adventure. Great Adventures provides services on account for $4,000, and Reynold's agrees to pay within 30 days. Mar. 27 Reynold's pays the roll amount oved, less the 5 quick-paynent discount. Apr. 7 several nen trom the make Lodge decide to participate in a TEAM adventure. They pay $7,500, and the event is seheduled for the following veek. Apr. 14 The TEAM adventure is held for members of the Elks Lodge. Apr. 30 Myers Manufacturing participates in a TITAN adventure. Great Adventures provides services on account for $6,000, And Myers agrees to pay within 30 days. Kay 31 Myers Manufacturing fails to pay the amount owed within the specified period and agrees to sign a three month, BN note receivable to replace the existing account receivable. Jun. 15 several M groupe participate in TEAM adventures. Great Adventures provides services on account for $24,000 to these groups, with payment due in July. Suzie estimates uncollectible accounts to be 10% of accounts receivable (which does not include the $6,000 note receivable from Myers Manufacturing). Prepare the adjusting entry for uncollectible accounts. 2 General Journal General Ledger Trial Balance Balance Sheet Income Statement Requirement Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field.) 14.28 points View transaction list View journal entry worksheet Debit Credit No Date Account Title 5,000 elook 1 Jan 24 Equipment 5,000 Cash Print 3.000 2 Feb 25 Accounts Receivable Service Revenue 3.000 References Feb 28 2,850 150 Canh Sales Discounts Accounts Receivable 3,000 4,000 4 Mar 19 Accounts Receivable Service Revenue 4,000 5 Mar 27 3,800 200 Cash Sales Discounts Accounts Receivable 4,000 7,500 0 Apr 07 Cash Deferred Revenue 7,500 7,500 7 Apr 14 Deferred Revenue Service Revenue 7,500 6,000 8 Apr 30 Accounts Receivable Service Revenue 6,000 6,000 9 May 31 Notes Receivable Accounts Receivable 6,000 2 6 7,500 Apr 07 Cash Deferred Revenue 7,500 7 1428 point Apr 14 7,500 Deferred Revenue Service Revenue 7.500 8 6,000 Apr 30 Accounts Receivable Service Revenue 6,000 eBook / 9 6,000 May 31 Notes Receivable Accounts Receivable Print 6,000 10 Jun 15 24,000 References Accounts Receivable Service Revenue 24.000 11 Jun 30 2,400 Bad Debt Expenso Allowance for Uncollectible Accounts 2.400 P 12 Jun 30 40 Interest Receivable Interest Revenue 40 13 Jun 30 44,500 40 Service Revenue Interest Revenue Sales Discounts Retained Earnings 270 92 230 14 Jun 30 58,360 Retained Earnings Depreciation Expense Supplies Expense Salaries Expanse Bad Debt Expense Interest Expense Rent Expense Insurance Expense 11.600 2.300 30,000 2.400 1.200 4,800 6,000 2 Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Each Journal entry is posted automatically to the general ledger. 14.28 points Adjusted Dates: Jan 24 to: Jun 30 General Ledger Account ebook Cash Accounts Receivable No. Date Debit Credit No. Date Debit Credit Balance Print 1 5.000 3,000 3,000 Balance 38,500 33,500 36,350 40,150 47.650 2 3 3.000 0 Jan 24 Feb 28 Mar 27 Apr 07 3 5 6 2,850 3,800 7,500 4 References 4,000 4,000 DDDDDDD 5 Feb 25 Feb 28 Mar 10 Mar 27 Apr 30 May 31 Jun 15 4,000 0 6,000 8,000 8 9 10 6,000 24,000 24,000 Allowance for Uncollectible Accounts Date Debit Credit Notes Receivable Debit Credit No. Balance No. Dato Balance 0 6,000 11 Jun 30 2,400 2.400 May 31 6,000 Interest Receivable Debit Credit Prepaid Rent Debit No Date Balance No. Date Credit Balance 400 0 n 12 Jun 30 40 40 Equipment Debit Accumulated Depreciation Debit Credit No. Date Credit No. Date Balance 40,000 45,000 Balance 16,000 1 Jan 24 5,000 Accounts Payable Debit Credit Interest Payable Debit Credit No. Date No. Date Balance Balance 2.800 1,650 2 Deferred Revenue Debit Credit Notes Payable Debit Credit Date No No. Date Balance Balance 30,000 0 7,500 14.28 points Apr 07 Apr 14 7,500 0 7 7,500 Common Stock Retained Earning No. No. Credit Debit Date Credit Debit Date Balance 20,000 Balance 33,450 eBook Print Service Revenue Debit Credit Interest Revenue Debit Credit No Date Balance No. Date Balance 0 40 0 References 3 12 40 Jun 30 2 4 7 Feb 25 Mar 19 Apr 14 Apr 30 Jun 15 3,000 4,000 7,500 6,000 24.000 3,000 7.000 14,500 20,500 44,500 8 10 Sales Discounts Debit Credit Depreciation Expense Debit Credit No. Date No Date Balance 8,000 Balance 0 150 350 3 Feb 28 Mar 27 150 200 5 Supplies Expense Debit Credit Salarios Expense Debit Credit No. Date No. Date Balance 500 Balance 12,000 Bad Debt Expense Debit Credit Interest Expense Debit Credit No. Date No. Balance Date Balance 900 0 11 Jun 30 2,400 2.400 Rent Expense Debit Credit Insurance Expense Debit Credit Date No. No. Date Balance 1.200 Balance 2,400 2 Myers wat actug. Prepare the adjusung entry for uncomecube accounts. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet 14.28 points Notice the dropdown below that gives the options to select the unadjusted, adjusted or post-closing trial balance. The option you choose will be the values used to populate the income statement and balance sheet tabs. Post-closing to: Jun 30 Book Dates: Jan 24 GREAT ADVENTURES, INC Trial Balance June 30, 2022 Account Title $ Print Credit Debit 47,650 24,000 References 2,400 6,000 40 400 45.000 Cash Accounts Receivable Allowance for Uncollectible Accounts Notes Receivable Interest Receivable Prepaid Rent Equipment Accumulated Depreciation Accounts Payable interest Payable Notes Payable Common Stock Retained Earnings Sales Discounts Depreciation Expenso Supplies Expense Salaries Expense Interest Expense Rent Expense Insurance Expense Total 16,000 2,800 1,650 30,000 20,000 67.320 BO 3,000 1,800 18,000 380 3,600 3,600 171,130 5 123,1705 2 General Journal General Ledger Requirement Income Statement Trial Balance Balance Sheet Notice the dropdown below that gives the options to select the unadjusted, adjusted or post-closing trial balance. The option you choose will be the values used to populate the income statement and balance sheet tabs 14.28 points to: Jun 30 Adjusted Dates: Jan 24 GREAT ADVENTURES, INC. Trial Balance June 30, 2022 eBook Credit Account Title $ Debit 47.650 24,000 Print 2,400 References 6,000 40 400 45,000 Cash Accounts Receivable Allowance for Uncollectible Accounts Notes Receivable interest Receivable Prepaid Rent Equipment Accumulated Depreciation Accounts Payable interest Payable Notes Payable Common Stock Retained Earnings Service Revenue interest Revenue Sales Discounts Depreciation Expense Supplies Expenso Salaries Expanse Bad Dobt Expense rest Expenso Rent Expense Insurance Expense Total 10,000 2,800 1,650 30,000 20,000 33,450 44,600 40 350 8,000 500 12.000 2.400 000 1,200 2.400 150,8405 5 150,840 General Ledger Income Statement > 2 Myers Manufacturing). Prepare the adjusting entry for uncollectible accounts. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet 14.28 points BOOK Choose the appropriate accounts to complete the company's income statement. Select 'adjusted' from the dropdown, which will then populate the balances in those accounts from the adjusted trial balance. Adjusted Dates: Jan 24 to: Jun 30 GREAT ADVENTURES, INC. Income Statement For the Period Ended June 30, 2022 Revenue: $ 0 0 0 Print References 0 $ 0 Total Revenue Exponse: 0 0 0 0 0 0 0 0 Total Expense 0 $ 0 Trial Balance Balance Sheet > 2 Jun. 15 Several MBA groups participate in TEAM adventures. Great Adventures provides services on account for 524,000 to these groups, with payment due in July. Suzie estimates uncollectible accounts to be 10% of accounts receivable (which does not include the $6,000 note receivable from Myers Manufacturing). Prepare the adjusting entry for uncollectible accounts. 14.28 points eBook Print References General General Income Requirement Balance Sheet Journal Trial Balance Ledger Statement Choose the appropriate accounts to complete the company's balance sheet. Make sure to select 'adjusted from the dropdown, which will then populate the balances in those accounts from the adjusted trial balance Adjusted Dates: Jan 24 to: Jun 30 GREAT ADVENTURES, INC. Balance Sheet June 30, 2022 Assets Liabilities Current Assets Current Liabilities: $ 0 $ 0 0 0 0 0 Total Current Liabilities 0 0 0 0 0 ol 0 Total Current Assets 0 Total Liabilities 0 Long-term Assets Stockholders' Equity 0 0 0 0 0 O Total Stockholders' Equity Total Assets $ Total Liabilities and Stockholders' Equity $ 0 0 0