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3 Flashcards | Quizlet HW Chapter 3: The Acco X 46000 divided by 12 - Bing + v https:/ewconnect.mheducation.com/flow/connect.html biking clinic and the company receives $4, 636. Jul. 24 Pay $830 to a local radio station for advertising to appear immediately. A kayaking clinic will be held on August 10, and attendees can pay $140 in advance or $190 on the day of the clinic. Jul. 30 Great Adventures receives cash of $7,000 in advance from 50 kayakers for the upcoming kayak clinic. Aug . 1 Great Adventures obtains a $46,000 low-interest loan for the company from the city council, which has recently passed an initiative encouraging business development related 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 $20, 400 cash. Aug. 10 Twenty additional kayakers pay $3,800 ($190 each), in addition to the $7,000 that was paid in advance on July 30, on the day of the clinic. Tony conducts the first kayak clinic. Aug. 17 Tony conducts a second kayak clinic, and the company receives $11, 200 cash. Aug. 24 Office supplies of $1, 800 purchased on July 4 are paid in full. Sep. 1 To provide better storage of mountain bikes and kayaks when not in use, the company rents a storage shed for one year, paying $3, 720 ($310 per month) in advance. Sep. 21 Tony conducts a rock climbing clinic. The company receives $14, 600 cash. Oct. 17 Tony conducts an orienteering clinic. Participants practice how to understand a nces topographical map, read an altimeter, use a compass, and orient through heavily wooded areas. The company receives $19, 100 cash. Dec. 1 Tony decides to hold the company's first adventure race on December 15. Four-person teams will race from checkpoint to checkpoint using a combination of mountain biking, kayaking, orienteering, trail running, and rock climbing skills. The first team in each category to complete all checkpoints in order wins. The entry fee for each team is $590. Dec. 5 To help organize and promote the race, Tony hires his college roommate, Victor. Victor will be paid $70 in salary for each team that competes in the race. His salary will be paid after the race. Dec. 8 The company pays $1, 700 to purchase a permit from a state park where the race will be held. The amount is recorded as a miscellaneous expense. Dec. 12 The company purchases racing supplies for $3,000 on account due in 30 days. Supplies include trophies for the top-finishing teams in each category, promotional shirts, snack foods and drinks for participants, and field markers to prepare the racecourse. Dec. 15 The company receives $23, 600 cash from a total of forty teams, and the race is held. Dec. 16 The company pays Victor's salary of $2, 800. Dec. 31 The company pays a dividend of $3, 700 ($1, 850 to Tony and $1, 850 to Suzie). Dec. 31 using his personal money. Tony purchases a diamond ring for $4.800. Tony surprises Suzie pe here to search e
