At the end of 2025, the following information is available for Great Adventures. Additional Interest for five months needs to be accrued on the $31,000, 0% note payable obtained on August 1, 2024. Recall that annual interest is paid each July 31 Assume that $1,800 of the $31,800 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 $26,800 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 $13,800 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 $5,800 Requirement General General Joumal Trial Balance Ledger 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.)) View transaction list Journal entry worksheet < 2 3 4 5 6 7 Additional interest for five months needs to be accrued on the $31,800, 6% note payable obtained on August 1, 2024. Recall that annual interest is paid each July 31. Record the adjusting entry Note: Enter debits before credits Date December 31 General Journal Debit Credit Record entry Clear entry View general journal At the end of 2025, the following Information is available for Great Adventures Additional Interest for five months needs to be accrued on the $31,800, 6% note payable obtained on August 1, 2024. Recall that annual Interest is paid each July 31. Assume that $11,800 of the $31,800 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 $26,800 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 $13,800 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 $5,800. Requirement 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.) View transaction list Journal entry worksheet < 1 3 4 5 6 7 Assume that $11.800 of the $31.800 note discussed above is due next year. Record the entry to reclassify the current portion of the long-term note. Note: Enter debits before credits. Date December 31 General Journal Debit Credit Record entry Clear entry View general journal At the end of 2025, the following information is available for Great Adventures. Additional Interest for five months needs to be accrued on the $31,800, 6% note payable obtained on August 1, 2024. Recall that annual interest is paid each July 31 Assume that $11,800 of the $31,800 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 $26,800 dunng the year and recorded those as Deferred Revenue Great Adventures is a defendant in imigation 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 $13,800 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 $5,800 Requirement General Journal General Ledger Income Trial Balance 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.) View transaction list Journal entry worksheet < 1 2 4 5 6 By the end of the year $20,000 in gift cards have been redeemed. The company had sold gift cards of $26,800 during the year and recorded those as Deferred Revenue. Record the adjusting entry. Note: Enter debits before credits Cafe December 31 General Journal Debit Credit Record entry Clear entry View general journal > At the end of 2025, the following information is available for Great Adventures Addmonal interest for five months needs to be accrued on the $31,800, 6% note payable obtained on August 1, 2024 Recall that annual Interest is paid each July 31 Assume that $11,800 of the $31,800 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 $26,800 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 $13,800. 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 $5,800 Requirement 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.) View transaction list Journal entry worksheet < 1 2 3 5 6 7 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 $13,800. Record the adjusting entry. Note: Enter debits before credits Dale December 31 General Journal Delt Credit Record entry Clear entry View general journal At the end of 2025, the following information is available for Great Adventures Additional Interest for five months needs to be accrued on the $31,800, 6% note payable obtained on August 1, 2024. Recall that annual interest is paid each July 31 Assume that $11,800 of the $31,800 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 $26,800 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 $13,800. 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 $5,800 General Requirement 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.) View transaction list Journal entry worksheet < 1 2 3 4 6 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 $5,800. Record the adjusting entry. Note: Enter debits before credits Date December 31 General Journal Debit Credit Record entry Clear entry View general journal At the end of 2025, the following information is available for Great Adventures Additonal Interest for five months needs to be accrued on the $31,800, 0% note payable obtained on August 1, 2024. Recall that annual interest is paid each July 31 Assume that $11,000 of the $31,800 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 $26,800 during the year and recorded those as Deferred Revenue Great Adventures is a defendant in Ingation involving a biking accident during one of its adventure races. The company belleves the likelihood of payment occurring is probable, and the estimated amount to be paid is $13,800. 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 $5,800 Requirement 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.) View transaction list Journal entry worksheet < 1 2 3 4 5 7 Record the closing entry for revenue accounts. Note: Enter debits before credits. Date December 31 General Journal Debit Credit Record entry Clear entry View general journal At the end of 2025, the following information is available for Great Adventures Addmonal interest for five months needs to be accrued on the $31,800, 6% note payable obtained on August 1, 2024. Recall that annual interest is paid each July 31 Assume that $11,800 of the $31,800 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 $26,800 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 $13,800. 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 $5,800 General Requirement 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.) View transaction list Journal entry worksheet < 1 2 3 5 Record the closing entry for expense and loss accounts. Note: Enter debits before credits. Date December 31 General Journal Debit Credit At the end of 2025, the following information is available for Great Adventures Additional Interest for five months needs to be accrued on the $31,800, 6% note payable obtained on August 1, 2024. Recall that annual Interest is paid each July 31. Assume that $11,800 of the $31,800 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 $26,800 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 $13,800. 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 $5,800. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Prepare a classified balance sheet as of December 31, 2025. 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 Assets Current Assets Total Current Assets Long-term Assets Total Assets GREAT ADVENTURES, INCORPORATED Balance Sheet December 31, 2026 Liabilities Current Liabilities Total Current Liabilities Total Liabilities Stockholders' Equity Total Stockholders' Equity Total Liabilities and Stockholders' Equity