Question
Create Daily Journal With following information 1. Aug 1 - Great Adventures obtains $30000, low interest loan for the company. Loan is Due in 3
Create Daily Journal With following information
1. Aug 1 - Great Adventures obtains $30000, low interest loan for the company. Loan is Due in 3 Years and 6% annual interest is due each year on July 31
2. Aug 4 - The Company purchases 14 kayaks, paying 40,320 cash in total
3. Aug 10 - 20 Kayakers pay $3,800 for clinic.
4. Aug 12 - Collected 2000 from July clinic
5 Aug 17- Tony Conducts second Kayak clinic and the company receives 10500 cash
6. Aug 24 Paid for supplies purchased on account on July 4 in full, $1,900
7. Sep 1 Company Rents storage for mountain bikes on kayaks when not in use for one year paying $2,400 ($200 Per month)
8. Sep 21 Tony conducts a rock climber clinic. The company bills clients $13,200 that is due in 30 Days
9. Oct 17 Paid the Local Radio Station $1,200 for advertising Great Adventures for the remainder of October
10. Oct 20. Collected 80% of amount due from the Sep 21 Rock Climbing Clinic
11. Dec 1 Tony decides to hold company first adventure race on Dec 14. The entry fee will be $500 for each team
12. Dec 5 to help with the race, Tony hires Victor will be paid $50 salary for each team that competes in race. Hos salary will be paid after the race
13. Dec 8 Company pays $1,200 for permit in state park where the race will be. Amount will be recorded as a MISC expense
14. Dec 12 - The company purchases racing supplies $2,800 on account due in 30 Days.
15 Dec 15 The company receives $20,000 Cash from a total of 40 teams that are in the race.
16 Dec 16 Company pays Victors Salary (ignore Taxes)
17 Dec 31 The Company pays divided of $4000 ($2000 to Tony and $2000 to Suzie)
18 Dec 31 Using personal money Tony purchases a diamond ring for $4,500. Tony surprises Suzie by proposing, she accepts, and they get married.
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