At the end of 2025, the following information is available for Great Adventures.

• Additional interest for five months needs to be accrued on the $31,400, 6% note payable obtained on August 1, 2024. Recall that annual interest is paid each July 31.
• Assume that $11,400 of the $31,400 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 $26,400 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 $13,400.
• 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 $5,400.

RWP8-1 (Algo) Great Adventures Continuing Case (GL) At the end of 2025 , the following information is available for Great Adventures. - Additional interest for five months needs to be accrued on the $31,400,6% note payable obtained on August 1,2024 . Recall that annual interest is pald each July 31. - Assume that $11,400 of the $31,400 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 $26,400 during the year ano 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 $13,400. - 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 $5,400. 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.) Post-closing Prepare a classified balance sheet as of December 31, 2025. Choose the appropriate accounts to complete the company's balance The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, sele in the first account field.) Journal entry worksheet repare the journal entries for transactions. (If no entry is required for a particular transaction/event, selec n the first account field.) Journal entry worksheet (1) (2) (3) (4) (5) Record the closing entry for expense and loss accounts. Note: Enter debits before credits. RWP8-1 (Algo) Great Adventures Continuing Case (GL) At the end of 2025 , the following information is available for Great Adventures. - Additional interest for five months needs to be accrued on the $31,400,6% note payable obtained on August 1,2024 . Recall that annual interest is pald each July 31. - Assume that $11,400 of the $31,400 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 $26,400 during the year ano 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 $13,400. - 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 $5,400. 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.) Post-closing Prepare a classified balance sheet as of December 31, 2025. Choose the appropriate accounts to complete the company's balance The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, sele in the first account field.) Journal entry worksheet repare the journal entries for transactions. (If no entry is required for a particular transaction/event, selec n the first account field.) Journal entry worksheet (1) (2) (3) (4) (5) Record the closing entry for expense and loss accounts. Note: Enter debits before credits