balances are provided for the month ended July 31. as co-presidents of the company. The following business activities occur during July for Great Adventures. Jul. 1 Sell $16,500 of common stock to Suzie. Jul. 1 Sell $16,500 of common stock to Tony. Jul. 2 Pay legal fees of $1,200 associated with incorporation. Jul. 4 Purchase office supplies of $1,200 on account. Jul. 8 Purchase 10 mountain bikes, paying $19,100 cash. Jul. 15 On the day of the clinic, Great Adventures receives cash of $2,000 from 50 bikers. Tony conducts the mountain biking clinic. 9 3 Jul. 30 Great Adventures receives cash of $10,400 in advance from 80 kayakers for the upcoming kayak clinic. to outdoor activities. The loan is due in three years, and 6% annual interest is due each year on July 31. Aug. 4 The company purchases 14 kayaks, paying $24,000 cash. Aug. 17 Tony conducts a second kayak clinic, and the company receives $10,700 cash. Aug. 24 Office supplies of $1,200 purchased on July 4 are paid in full. Sep. 21 Tony conducts a rock-climbing clinic. The company receives $14,500 cash. 5 all Dec. 31 The company pays a dividend of $3,700 ($1,850 to Tony and $1,850 to Suzie)