3 Part 1 of 2 1428 points Required information (The following information applies to the questions displayed below.) Tony and Suzie are ready to expand Great Adventures even further in 2022. Tony believes that many groups in the community (for example, Boy Scouts church groups, civic 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 on the customer will receive a 20% discount. For the first six months of the year, the following activities occur for TEAM operations, Jan. 24 Great Adventures purchases outdoor gear such as ropes, helmets, harnesses, compasses, and other miscellaneous equipment for $5,000 cash Feb. 25 Mr. Kendall's Boy Scout troop participates in one-day TEAM adventure. Normally, Tony would charge a group of this size $3,500, but he wants to encourage kids to exercise more and enjoy the outdoors so he charges the group only $3,000. Great Adventures provides these services on account. Feb. 28 The Boy Scout troop pays the full amount owed, less the 51 quick-payment discount. Mar. 19 Heynold's 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. 29 Reynolds pays the full amount owed, less the 5 quick-payment discount Apr. 7 several men from the Elke Lodge decide to participate in a TEAM adventure. They pay $7,500, and the event is scheduled for the following week. Apr. 24 The TEAM adventure in held for members of the Elks Lodge. Apr. 30 Myers Manufacturing participates in & TIAM adventure. Great Adventures provides services on account for $6,000, and Myers agree to pay within 30 days. May 31 Myers Manufacturing tasis to pay the amount owed within the specified period and agree to sign a three-month, note receivable to replace the existing account receivable. Jun. 15 Several Man groupe participate in TEAM adventures. Great Adventures provides services on account for $24,000 to these groups, with payment due in July. 3 Required: 1. Record TEAM adventure transactions occurring during the first six months of 2022. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field.) Part 1 of 2 14.28 points Answer is complete but not entirely correct. General Journal Debit Credit No Date 5,000 1 Jan 24, 2022 Inventory Cash 5.000 3,000 2 Feb 25, 2022 Cash Sales Discounts OO 3.000 3 Feb 28, 2022 2,850 150 Cash Sales Discounts Interest Revenue ooo 3.000 4,000 Mar. 19,2022 Cash Service Fee Expense oo 4,000 3.000 5 Mar 27, 2022 200 Sales Discounts Interest Expense OOO 4.000 7.500 1 Apr. 7. 2022 Cash Entertainment Expense 7.600 7.500 7 Apr 14, 2022 Cash Accounts Payable 7.500 0 0 0 8,000 8 Apr 30, 2012 Cash Service Fee Expense 6.000 Ennn ! 3 Required information 3,000 Sales Discounts Part 1 of 2 3 Feb. 28, 2022 Cash Sales Discounts Interest Revenue 2,850 150 loo 3 3,000 14.28 points 4,000 4 Mar 19, 2022 Cash Service Fee Expense X 4,000 6 Mar 27, 2022 OO 3.800 200 Cash Sales Discounts Interest Expense X 4000 7,500 6 Apr 7, 2022 Cash Entertainment Expense 00 7.500 7.500 7 Apr 14, 2022 Cash Accounts Payable 7,500 6,000 0 Apr 30, 2022 Cash Service Fee Expense $ 0.000 9 9 6,120 May 31, 2022 O Notes Receivable Interest Revenue Accounts Receivable 120 6,000 10 Jun 15, 2022 24,000 Service Fee Expense Cash 3 24,000