At the end of 2025, the following information is available for Great Adventures. S . Additional interest for five months needs to be accrued on the $30,200, 6% note payable obtained on August 1, 2024. Recall that annual interest is paid each July 31. Assume that $10,200 of the $30,200 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 $25,200 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 $12,200. 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 $4,200. 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 9 7 Additional interest for five months needs to be accrued on the $30,200, 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 Prev 2 of 3 Next > Book Journal entry worksheet erences < 3 4 5 6 7 Assume that $10,200 of the $30,200 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 S < 1 2 9 4 5 6 7 By the end of the year, $20,000 in gift cards have been redeemed. The company had sold gift cards of $25,200 during the year and recorded those as Deferred Revenue. Record the adjusting entry. Note: Enter debits before credits. Date December 31 General Journal Debit Credit View general journal Record entry Clear entry eBook References Mc 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 $12,200. Record: the adjusting entry. Note: Enter debits before credits. Date: December 31 General Journal Debit Credit Record entry Clear entry View general journal kipped View transaction list Book erences Journal entry worksheet < 1 2 3 4 56 7 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 $4,200. Record the adjusting entry. Note: Enter debits before credits. Date December 31 General Journal Debit Credit View general journal > eBook References 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 eBook Journal entry worksheet References < 1 2 3 4 10 5 6 Record the closing entry for expense and loss accounts. Note: Enter debits before credits. Date December 31 General Journal Debit Credit