- Additional interest for five months needs to be accrued on the $30,400,6% note payable obtained on August 1.2024 Recall that annual interest is paid each July 31 - Assume that $10,400 of the $30,400 note discussed above is due next year. Record the entry to reclassify the current portion of the long-term note. - By the end of the year, $20,000 in gift cards have been redeemed. The company had sold gift cards of $25,400 during the year and recorded those as Deferred Revenue. - Great Adventures is a defendant in litigation involving a biking accident during one of its adventure races. The company believes the likelihood of payment occurring is probable, and the estimated amount to be paid is $12,400. - For sales of MU watches, Great Adventures offers a warranty against defect for one year. At the end of the year, the company estimates future warranty costs to be $4,400. Adjusted - Additional interest for five months needs to be accrued on the $30,400,6% note payable obtained on August 1.2024 Recall that annual interest is paid each July 31 - Assume that $10,400 of the $30,400 note discussed above is due next year. Record the entry to reclassify the current portion of the long-term note. - By the end of the year, $20,000 in gift cards have been redeemed. The company had sold gift cards of $25,400 during the year and recorded those as Deferred Revenue. - Great Adventures is a defendant in litigation involving a biking accident during one of its adventure races. The company believes the likelihood of payment occurring is probable, and the estimated amount to be paid is $12,400. - For sales of MU watches, Great Adventures offers a warranty against defect for one year. At the end of the year, the company estimates future warranty costs to be $4,400. Adjusted