B 2 of 2 5 Prim Required information Great Adventures Problem AP5.1 The following information applies to the questions displayed below) Tony and Suzie are ready to expand Great Adventures even further in 2022. Tony believes that many groups in the community (for example, Boy Scouts, church groups, civic groups, and local businesses) would like to hold one day outings for their members, Groups would engage in outdoor activities such as rock climbing, fishing, capture the flag. paintball, treasure hunts, scavenger hunts, nature hikes, and so on. The purpose of these one-day events would be for each member of the group to learn the importance of TEAM (Together Everyone Achieves Morel Tony knows that most people are not familiar with these types of activities, so to encourage business he allows groups to participate in the event before paying He offers a 4% quick-payment discount to those that pay within 10 days after the event. He also guarantees that at least eight hours of outdoor activities will be provided or the customer will receive a 20% discount. For the first six months of the year, the following activities occur for TEAM operations Jan. 24 Great Adventures purchases outdoor gear such as ropes, helmets, harnesses, compasses, and other miscellaneous equipment for $4,700 cash. Feb. 25. Fr. Kendall's Boy Scout troop participates in a one-day TEAM adventure. Normally, Tony would charge group of this size $3,200, but he wants to encourage kids to exercise more and enjoy the outdoors so he charges the group only $2,700. Great Adventures provides these services on account. Feb. 28 The Boy Scout troop pays the full anunt owed, less the 4 quick-payment discount, Mar. 19 Reynold's Management has its employees participate in a one-day TEA adventure. Great Adventures provides Services on account for $3,700, and Reynold's agrees to pay within 30 days. Mar. 27 Reynold's pays the full amount owed, less the 4* quick payment discount. Apr. 7 Several wen from the tik Lodge decide to participate in TEAM adventure. They pay $2,200, and the event is scheduled for the following week Apr. 14 The TEA adventure 15 held fornenbers of the Elis Lodge Apr. yers Manufacturing participates in TEAM adventure Great Adventures provides serpices On account for 55,700 May 31 Myers Manufacturing fails to pay the amount owed with the specified period and agrees to sign a three-month 7 not receivable to replace the existing account receivable: dus. 15 several 16 groups participate in TEAT adventures. Great Adventures provides services on account for $23.500 to these soups, with payment det in July