At the end of 2022, the following information is available for Great Adventures. . Additional interest for five months needs to be accrued on the $30,600, 6% loan obtained on August 1, 2021 Recall that annual interest is paid each July 31. Assume that $10.600 of the $30,600 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 $25,600 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 $12,600 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 $4,600, Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet 1. Record each of the transactions listed above in the 'Gene Journal tab. Review the General Ledger and the Trial Balance' tabs to see the effect of the transactions on the account balances. 2. Review the Trial Balance as of December 31, 2022, in the Trial Balancel tab. 3. Prepare a multiple step income statement for the period ended December 31, 2022, in the Income Statement' tab. 4. Prepare a classified balance sheet as of December 31, 2022, in the 'Balance Sheet' tab. 5. Record the closing entries in the 'General Journal' tab. General Journal > . Additional interest for five months needs to be accrued on the $30,600,6% loan obtained on August 1, 2021. Recall that annual Assume that $10,600 of the $30,600 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 $25,600 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 $12,600. 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 $4,600 Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Prepare the journal enties for transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 6 7 > Additional interest for five months needs to be accrued on the $30,600, 6% loan obtained on August 1, 2021. Recall that annual interest is paid each July 31. Note: Enter debits before credits General Journal Date Dec 31 Debit Credit company's income statement. The unadjusted, adjusted, or post-closing balances will appear for each account, based on selection Unadjusted GREAT ADVENTURES, INC. Income Statement For the Period Ended December 31, 2022 Revenues $ 0 0 0 0 Net Sales 0 0 + Gross Profit Operating Expenses $ 0 0 0 0 0 0 0 0 0 0 0 Total Operating Expenses Operating Income (Loss) 0 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 Unadjusted Unadjusted Adjusted Post-closing GREAT ADVENTURES, INC. Balance Sheet December 31, 2022 Assets Liabilities LP Current Liabilities $ s OOOO OOOOOOOOO 0 0 0 0 Total Current Liabilities 0 0 0 Total Current Assets 0 Total Liabilities 0 Long-term Assets Stockholders' Equity 0 0 0 0 0 0 0 Total Stockholders' Equity O Total Liabilities and Stockholders'Equity 0 Total Assets 5 $ 0 Income Statement GREAT ADVENTURES, INC. Trial Balance December 31, 2022 Account Title Credit Cash $ Debit 89,160 50,600 2,460 7,600 960 66,620 Accounts Receivable Allowance for Uncollectible Accounts Inventory Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable interest Payable Income Tax Payable Deferred Revenue Notos Payablo (Long-term) Contingent Liability Warranty Liability Common Stock Retained Earnings Service Revenue Sales Revenue Sales Discounts Interest Revenue Cost of Goods Sold Depreciation Expenso 25,850 21,400 765 16,835 5,600 30,600 12,600 4,600 20,000 33.750 44,800 106,000 380 180 38,800 17,550 4,600 20,000 33,750 44,800 106,000 380 180 38,800 Warranty Liability Common Stock Retained Eamings 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 Repairs and Maintenance Expense Total 17,550 650 25,500 2,550 1.110 2.700 14,800 6,000 460 325,440 S 325,440 At the end of 2022, the following information is available for Great Adventures. . Additional interest for five months needs to be accrued on the $30,600, 6% loan obtained on August 1, 2021 Recall that annual interest is paid each July 31. Assume that $10.600 of the $30,600 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 $25,600 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 $12,600 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 $4,600, Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet 1. Record each of the transactions listed above in the 'Gene Journal tab. Review the General Ledger and the Trial Balance' tabs to see the effect of the transactions on the account balances. 2. Review the Trial Balance as of December 31, 2022, in the Trial Balancel tab. 3. Prepare a multiple step income statement for the period ended December 31, 2022, in the Income Statement' tab. 4. Prepare a classified balance sheet as of December 31, 2022, in the 'Balance Sheet' tab. 5. Record the closing entries in the 'General Journal' tab. General Journal > . Additional interest for five months needs to be accrued on the $30,600,6% loan obtained on August 1, 2021. Recall that annual Assume that $10,600 of the $30,600 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 $25,600 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 $12,600. 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 $4,600 Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Prepare the journal enties for transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 6 7 > Additional interest for five months needs to be accrued on the $30,600, 6% loan obtained on August 1, 2021. Recall that annual interest is paid each July 31. Note: Enter debits before credits General Journal Date Dec 31 Debit Credit company's income statement. The unadjusted, adjusted, or post-closing balances will appear for each account, based on selection Unadjusted GREAT ADVENTURES, INC. Income Statement For the Period Ended December 31, 2022 Revenues $ 0 0 0 0 Net Sales 0 0 + Gross Profit Operating Expenses $ 0 0 0 0 0 0 0 0 0 0 0 Total Operating Expenses Operating Income (Loss) 0 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 Unadjusted Unadjusted Adjusted Post-closing GREAT ADVENTURES, INC. Balance Sheet December 31, 2022 Assets Liabilities LP Current Liabilities $ s OOOO OOOOOOOOO 0 0 0 0 Total Current Liabilities 0 0 0 Total Current Assets 0 Total Liabilities 0 Long-term Assets Stockholders' Equity 0 0 0 0 0 0 0 Total Stockholders' Equity O Total Liabilities and Stockholders'Equity 0 Total Assets 5 $ 0 Income Statement GREAT ADVENTURES, INC. Trial Balance December 31, 2022 Account Title Credit Cash $ Debit 89,160 50,600 2,460 7,600 960 66,620 Accounts Receivable Allowance for Uncollectible Accounts Inventory Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable interest Payable Income Tax Payable Deferred Revenue Notos Payablo (Long-term) Contingent Liability Warranty Liability Common Stock Retained Earnings Service Revenue Sales Revenue Sales Discounts Interest Revenue Cost of Goods Sold Depreciation Expenso 25,850 21,400 765 16,835 5,600 30,600 12,600 4,600 20,000 33.750 44,800 106,000 380 180 38,800 17,550 4,600 20,000 33,750 44,800 106,000 380 180 38,800 Warranty Liability Common Stock Retained Eamings 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 Repairs and Maintenance Expense Total 17,550 650 25,500 2,550 1.110 2.700 14,800 6,000 460 325,440 S 325,440