At the end of 2022, the following information is available for Great Adventures. Additional interest for five months needs to be accrued on the $30,800, 6% loan obtained on August 1, 2021. Recall that annual interest is paid each July 31. Assume that $10,800 of the $30,800 loan discussed above is due next year. By the end of the year, $20,000 in gift cards have been redeemed. The company had sold gift cards of $25,800 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 $12,800. 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 $4,800. . Answer is not complete. Requirem... General Journal General Ledger Trial Balance Income Statement Balance Sheet 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.) No General Journal Credit Date Dec 31 Debit 770 1 Interest Expense Interest Payable 700 x 2 Dec 31 10,800 Notes Payable (Long-term) Notes Payable (Current) 8 9 10,800 3 Dec 31 20,000 Deferred Revenue Sales Revenue 20,000 4 Dec 31 > 12,800 Loss Contingent Liability 12,800 5 Dec 31 4,800 Warranty Expense Warranty Liability SI 8 4,800 Dan 21 Salon Nononun non Post-closir Dates: Dec 31 to: Dec 31 General Ledger Account Cash Accounts Receivable No. Date Debit Credit No. Date Debit Credit Balance 89, 190 Balance 50,800 Allowance for Uncollectible Accounts Inventory Debit No. Date Debit Credit No. Date Credit Balance 2,480 Balance 7,800 Prepaid Insurance Equipment No. Date Debit Credit Balance No. Date Debit Credit Balance 68,160 980 Accounts Payable Accumulated Depreciation Date Debit Credit No. No. Date Debit Credit Balance 26,050 Balance 21,600 Interest Payable Income Tax Payable No. Date Debit Credit No. Date Debit Credit Balance 0 700 Balance 14,900 1 Dec 31 700 Deferred Revenue Notes Payable (Current) Date Debit Credit No. Date Debit Credit No. Balance 25,800 5,800 Balance 0 10,800 3 Dec 31 20,000 2 w Dec 31 10,800 Notes Payable (Long-term) Date Debit Credit Contingent Liability Debit Credit No. No. Date Balance 30,800 20,000 Balance 0 12,800 2 T Dec 31 10,800 4 Dec 31 12,800 Common Stock Warranty Liability Debit Credit No. Date No. Date Debit Credit Balance 0 4,800 Balance 20,000 5 Dec 31 4,800 Service Revenue Retained Earnings Debit Credit No. Date No. Date Debit Credit Balance 33,850 Balance 44,900 Sales Revenue Sales Discounts No. Date Debit Credit No. Date Debit Credit Balance 390 Balance 108,000 128,000 108,000 20,000 3 6 Dec 31 Dec 31 20,000 Interest Revenue Cost of Goods Sold No. Date Debit Credit No. Date Debit Credit Balance 200 20,200 Balance 38,900 Dec 31 20,000 Depreciation Expense Debit Credit Supplies Expense Debit Credit No. Date No. Date Balance 17,650 Balance 700 19,070 7 Dec 31 18,370 Salaries Expense Bad Debt Expense No. Date Debit Credit No. Date Debit Credit Balance 26,000 Balance 2,600 Interest Expense Rent Expense Debit Credit No. Date Debit Credit No. Date Balance 2,800 Balance 1,130 1,900 1,200 1 770 Dec 31 Dec 31 7 700 Income Tax Expense Insurance Expense Debit Credit No. Date Debit Credit No. Date Balance 14,900 Balance 6,100 Service Fee Expense Repairs and Maintenance Expense No. Date Debit Credit No. Date Debit Credit Balance Balance 0 (12,800) 480 7 Dec 31 12,800 Loss Warranty Expense Debit Credit No. Date No. Date Debit Credit Balance 0 4,800 0 Balance 0 12,800 5 4,800 4 Dec 31 12,800 Dec 31 Dec 31 7 4,800 77777 GREAT ADVENTURES, INC. Trial Balance December 31, 2022 Account Title Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Interest Payable Income Tax Payable Deferred Revenue Notes Payable (Current) Notes Payable (Long-term) Contingent Liability Warranty Liability Common Stock Retained Earnings Service Revenue Sales Revenue Sales Discounts Interest Revenue Cost of Goods Sold Depreciation Expense Supplies Expense Salaries Expense Bad Debt Expense Interest Expense Rent Expense Income Tax Expense Insurance Expense Service Fee Expense Repairs and Maintenance Expense LOSS Total Debit Credit $ 89,190 50,800 2,480 7,800 980 68,160 26,050 21,600 700 14,900 5,800 10,800 20,000 12,800 4,800 20,000 33,850 44,900 108,000 390 20,200 38,900 17,650 19,070 26,000 2,600 1,200 2,800 14,900 6,100 12,800 480 12,800 $ 359,820 $ 359,680 Prepare an income statement for the period ended December 31, 2022. 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. Show less Post-closing GREAT ADVENTURES, INC. Income Statement For the Period Ended December 31, 2022 Revenues: $ 0 0 0 0 Net Sales 0 0 TEA $ 0 Gross Profit Operating Expenses: 0 0 0 0 0 0 0 0 0 0 0 Total Operating Expenses Operating Income (Loss) 0 Income Before Income Taxes 0 $ 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. Show less A Post-closi. GREAT ADVENTURES, INC. Balance Sheet December 31, 2022 Assets Liabilities Current Assets: Current Liabilities: $ 0 $ 0 0 0 0 0 0 0 0 0 ololololololol Total Current Liabilities 0 0 0 0 0 Total Current Assets Long-term Assets: Total Liabilities Stockholders' Equity 0 0 Ololol 0 0 Total Stockholders' 0 Equity Total Liabilities and $ 0 Stockholders'Equity