5 1428 points The following information apples to the questions displayed below! Now that operations for outdoor clinics and TEAM events are running smoothly, Suzie thinks of another area for business expansion She notices that a few clinic participants wear multiuse (MU) watches. Beyond the normal timekeeping features of most watches, MU watches are able to report temperature, altitude, and barometric pressure. MU watches are waterproof, so moisture from Kayaking, rain, fishing, or even diving up to 100 feet won't damage them. Suzie decides to have MU watches available for sale at the start of each clinic. The following transactions relate to purchases and sales of watches during the second half of 2022. All watches are sold for $500 each 31. 17 Purobaud 50 watches for $7.500 ($150 por watch) on account, Jol. 31 fold 40 watches for $70,000 cash g. 12 Purchased 40 watches for 06,400 (5160 per watch) cash M. 22 Sold 30 watches for $15,000 on account. sap. 19 Paid for watches purchased on July 17. sep. 27 Receive cash of 59.000 for watches sold on account on August 22. oet. 27 Purchased so watches for 01), 600 (5970 per watch) cash MO 20 Bold 90 watches for 545,000 cash. Dec. Purchased 100 watches for $10,000 $100 per vatel) on account. De bold 40 watches for $20,000 account. Late in December the next generation of multiuse (MUI) watches is released. In addition to all of the features of the MU watch the MU I watches are equipped with a global positioning system (GPS) and have the ability to download and play songs and videos of Internet. The demand for the original MU watches is greatly reduced. As of December 31, the estimated net realizable value of MU watches is only $100 per watch Answer is not complete. General General Income Trial balance Requirement lalance Sheet Journal Ledger Statement Prepare the journal entries for transaction. If no entry is required for a particular transaction/event, select "No Journal entry Required in the rest account field.) Ne Date General Journal Debit Credit Jul 17 Inventory 7.500 Accounts Payable 7.600 1 OO 20.000 2 M 00 20,000 Ses Revenge 6.000 3 0 JU 31 . Cost of Goods Sold 5 Answer is not complete. General Journal General Ledger Requirement Income Statement Trial Balance Balance Sheet 14.28 points 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.) Debit Credit No General Journal Date Jul 17 1 7,500 Inventory Accounts Payable . 7,500 10 20,000 2 Jul 31 Cash Sales Revenue 20,000 6,000 3 Jul 31 Cost of Goods Sold Inventory 6,000 5,400 4 Aug 12 Accounts Receivable Cash o 6,400 15,000 5 Aug 22 ol Accounts Receivable Ses Revenue 15,000 4.700 6 Aug 22 Cost of Goods Sold Inventory Oo 4.700 7.500 7 Sep 19 Accounts Payati Cash Olo 7,500 9.000 8 Sep 27 Cash Accounts Receivable lo 9.000 13.600 D Oct 27 Inventory Cash 00 13600 5 10 45,000 Nov 20 Cash Sales Revenue 45,000 11 Nov 20 15,100 14.28 points Cost of Goods Sold Inventory 15,100 18,000 12 Dec 04 Inventory Accounts Payable 18,000 o 13 Dec 08 20.000 Accounts Receivable Sales Revenue 20.000 14 Dec 08 7,100 Cost of Goods Sold Inventory 7.100 15 Dec 31 5.000 Cost of Goods Sold Inventory 5,600 10 Dec 31 Servion Revenue Sales Revenue Interest Revenue Cash 44.500 100.000 120 144,020 105,250 17 Dec 31 3 Cash Sales Discounts Cost of Goods Sold Depreciation Expense Supplies Expense Salaries Expanse Bad Debt Experts Interest Expense Rent Expense Income Tax Expense Insurance Exponse OOOO 350 38,500 16,000 500 24.000 2.400 1.800 2,400 14.500 4,800 los 5 Answer is not complete. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet 14.28 points Choose the appropriate accounts to complete the company's income statement. The unadjusted, adjusted, or post.closing balances will appear for each account, based on your selection. 0|ee|e Post-closing GREAT ADVENTURES, INC. Income Statement For the Period Ended December 31, 2022 Revenues Service Revenue ls Sales Revenue Sales Discounts interest Revenue 0 Not Sales 0 Cost of Goods Sold Gross Proft Operating Expense Depreciation Expono insurance Expense Rent Expense Salaries Expense 0 Supplies Expense Bad Debt Expense OOOOOO $ 0 QOoooo OOOOOOO Total Operating Expono Operating income (Loss) interest Expense lo OOOOO Income Before Income Taxes Income Tax Expense Not Income olol 0 D 5 -- w Internet. The demand for the original MU watches is greatly reduced. As of December 31, the estimated net realizable value of MU watches is only $100 per watch Answer is not complete. 14.28 points Requirement General General Ledger Income Statement Trial Balance Journal Balance Sheet Prepare a classified balance sheet as of December 31, 2022. Choose the appropriate accounts to complete the company's balance sheet The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection Post-closing GREAT ADVENTURES, INC Balance Sheet December 31, 2022 Liabilities Assets Current Assets Cash Accounts Receivable Inventory Allowance for Uncollectible Accounts 43,000 56,400 600 (2,400) 0 Current Libilities Accounts Payable Interest Payable Income Tax Payable O 20,800 750 14,500 0 36,050 30,000 85,050 0 OP 98,500 Total Current Assets Long-term Assets Equipment Aocumdated Depreciation Total Current Liabilities Notes Payable Total Liabiti Stockholders' Equity Retained Lamings Common Stock 3 45,000 (24.000) 0 33.450 20,000 0 63,450 119,500 D 119.500 Toul Stockholders' Equity Total Liabilities and Stockholders' Equity Total Assata 5 IS