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 hu nature hikes, and so on. The purpose of these one-day events would be for each member of the group to leam the importance of TEAM (Together Everyone Achieves More). Tony know? that most people are not familiar with these types of activities, so to encourage business he allows groups to participa in the event before paying. He offers a 6% 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 s months of the year, the following activities occur for TEAM operations. Jan. 24 Great Adventures purchases outdoor gear such as ropes, helnets, harnesses, compasses, and other miscettaneous equipment for $5,500 cash. Feb. 25Mr. Kendall's Boy Scout troop participates in a one-day TEAM adventure. Nornatly, Tony would charge a group of this size $4,000, but he wants to encourage kids to exercise more and enjoy the outdoors so he charges the group only $3,500. Great Adventures provides these services on account. Feb. 28 The Boy scout troop pays the full anount owed, less the 6k quick-payment discount. Mar. 19 Reynold's Managenent has its employees participate in a one-day TEAM adventure. Great Adventures provides services on account for 54,500 , and Reynold's agrees to pay within 30 days. Mar. 27 Reynotd's pays the fult amount owed, less the 64 quick-paynent discount. Apr. 7 several men from the Elks Lodge decide to participate in a TENH adventure. They pay s8, eee, and the event is scheduled for the following week. Apr. 14 The TEM adventure is hetd for members of the Etks Lodge. Apr. 30 Myers Manufacturing participates in a TEAM adventure. Great Adventures provides services on account for May 31 Myeri Manufacturing faits to pay the amount owed within the specified period and agrees to sigh a three-honth. 60 note receivable to reptace the existing account receivable. Jun. is Several MBA groups participate in IEN4 adventures. Great Adventures provides services on account for 326 ,sed to these groups, with payment due in July. Consider the following information as of June 30,2022. - Suzie estimates uncollectible accounts to be 5% of accounts receivable (which does not include the 510,000 note receivable from Myers Manufacturing). Prepare the adjusting entry for uncollectible accounts - Accrue one month of interest on the note receivable from Myers Manufacturing. Great Adwentures General te. i Revecin ats 44 54%5 E R T shews what is correct or Incerrect for the work you have completed se far, It does not indicate cor Noles Recenutite Aobounts Pecenuble Acobunte reconivhe Servion Revenue Bad betint Eipente Nowamse for Uncotecthle Ancouint tinterest mecoivatile 50 Interest Rmpenue Emovite Revenue Gind Deth Eripene 00