At the end of 2022, the following information is available for Great Adventures. Additional Interest for five months needs to be accrued on the $33,000, 6% loan obtained on August 1, 2021. Recall that annual Interest is paid each July 31. Assume that $13,000 of the $33,000 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 $28,000 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 $15,000. 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 $7,000. Requirement General Journal General Ledger Trial Balance Income Statement 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 Unadjusted GREAT ADVENTURES, INC Balance Sheet December 31, 2022 Assets Liabilities Current Assets Current Liabilities 0 S $ OOOO 0 O Trial Balance Requirement Journal Ledger Statement Balance Sheet Prepare a classified balance sheet as of December 31, 2022. Choose the appropriate accounts to complete the company's balar The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Unadjusted GREAT ADVENTURES, INC Balance Sheet December 31, 2022 Assets Liabilities Current Liabilities Current Assets: 0 $ ol 0 0 0 0 0 0 0 0 oo 0 0 0 0 0 0 0 Total Current Liabilities 0 0 0 0 Total Liabilities Total Current Assets Long-term Assets 0 Stockholders' Equity 0 0 0 0 0 0 0 Total Stockholders' Equity O Total Liabilities and Stockholders'Equity 0 Total Assets $ 0 Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Prepare an Income statement for the period ended December 31, 2022. Choose the appropriate acco company's Income statement. The unadjusted, adjusted, or post-closing balances will appear for each selection. Unadjusted GREAT ADVENTURES, INC. Income Statement For the Period Ended December 31, 2022 Revenues: $ 0 0 0 0 Net Sales ooo 0 0 $ 0 Gross Profit Operating Expenses: 0 0 Oo 0 0 0 0 0 O 0 0 $ 0 0 oooo 0 Net Sales 0 0 . $ 0 Gross Profit Operating Expenses: 0 0 0 0 0 0 0 0 0 ololo 0 Total Operating Expenses Operating Income (Loss) olo 0 0 Income Before Income Taxes 0 0 $ 0 Trial Balance Credit Account Title Dobit 89,520 53,000 2,700 10,000 1,200 85,100 Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Income Tax Payable Deferred Revenue Notes Payablo (Long-term) Common Stock Retained Earnings Service Revenue Sales Revenue Sales Discounts interest Revenue Cost of Goods Sold Depreciation Expenne Supplies Expense salaries Expense Bad Debt Expense Interest Expense Rent Expense 28,250 23,800 16,000 28,000 33,000 20,000 34,950 46,000 130,000 500 420 6 2 DLL 40,000 18,750 1,250 31,500 3,150 1,350 3,900 1,200 85,100 28,250 23,800 16,000 28,000 33,000 20,000 34,950 46,000 130,000 Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Income Tax Payable Deferred Revenue Notes Payable (Long-term) Common Stock Retained Earnings Service Revenue Sales Revenue Sales Discounts Interest Revenue Cost of Goods Sold Depreciation Experise Supplies Expense Salaries Expense Bad Debt Expense Interest Expense Rent Expenso Income Tax Expense Insurance Expense Repairs and Maintenance Expense 500 420 40,000 18,750 1,250 31,500 3,150 1,350 3,900 16,000 7,200 700 363,120 $ Total 363,120 General General Income Requirement Balance Sheet Journal Trial Balance Ledger Statement Each journal entry is posted automatically to the general ledger. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection Unadjusted Dates: to: Goneral Ledger Account Cash Accounts Recolvablo No. Date Debit Credit No. Date Debit Credit Balance 89,520 Balance 53,000 Allowance for Uncollectiblo Accounts Date Debit Inventory Dobit No. Credit No. Date Credit Balance 2,700 Balance 10,000 Prepaid Insurance Debit Credit Equipment Debit No. Date No. Date Credit Balance Balance 1,200 85,100 Accumulated Depreciation Debit Accounts Payablo Debit Credit No. Date Credit No. Date Balance 28,250 Balance 23,800 Income Tax Payablo Deferred Rovenuo No. Date Debit Credit No. Date Dobit Credit Balance 16,000 Balance 28,000 Income Tax Payable Deferred Revenue Debit Credit No. Dato Dobit Credit No. Date Balance 16,000 Balanco 28,000 Common Stock Notes Payable (Long-term) Debit Credit No. Date No. Date Dobit Credit Balance 33,000 Balance 20,000 Sorvice Revenue Retained Earnings Debit Credit No. Dato No. Date Debit Credit Balance 34,950 Balance 46,000 Salos Revenue Sales Discounts No. Date Debit Credit No. Date Debit Credit Balance 130,000 Balance 500 Interest Revenue Debit Credit Cost of Goods Sold Dobit Credit No. Date No. Date Balance 420 Balance 40,000 Depreciation Expense Credit Supplies Expense Debit Credit No. Date Debit No. Date Balance 18,750 Balance 1,250 Salarios Exponse Bad Debt Expenso Debit Credit No. Date Debit Credit No. Date Balance 31,500 Balance 3,150 Salarios Expono Bad Dobt Expenso No. Date Debit Credit No. Date Debit Balance 31,500 Credit Balanco 3,150 Interest Expense Debit Credit Rent Expense Dobit No. Date No. Date Crodit Balance 1,350 Balance 3,900 Income Tax Expenso Dobit Credit Insurance Expense Debit Credit No. Date No. Date Balance 16,000 Balance 7,200 Repairs and Maintenance Expanse Debit Credit No. Date Balance 700 View transaction list Journal entry worksheet By the end of the year, $20,000 in gift cards have been redeemed. The company had sold gift cards of $28,000 during the year and recorded those as Deferred Revenue. Note: Enter debits before credits. Date General Journal Dobit Credit Dec 31 Record entry Clear entry View general Journal Journal entry worksheet Record the closing entry for revenue accounts. Note: Enter debits before credits Date General Journal Debit Credit Dec 31 Record entry Clear entry View general Journal Journal entry worksheet Record the closing entry for expense and loss accounts. Note: Enter debits before credits. Dato General Journal Debit Credit Dec 31 ICOLMUIM SU July Assume that $13,000 of the $33,000 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 $28,000 durin recorded those as Deferred Revenue. . Great Adventures is a defendant in litigation involving a biking accident during one of its adventure races. The compa the likelihood of payment occurring is probable, and the estimated amount to be paid is $15,000. For sales of MU watches, Great Adventures offers a warranty against defect for one year. At the end of the year, the c estimates future warranty costs to be $7,000. General Requirement General Income Balance Sheet Journal Trial Balance Ledger Statement 1. Record each of the transactions listed above in the 'General 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 Balance' 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.