For Journal Entires 7- it is asking to prepare the closing entry for the revenue accounts

entry 8 -prepare the closing entry for the expense and loss accounts

entry 9- prepare the closing entry for the dividend account

Tony and Suzie have purchased land for a new camp. Now they need money to build the cabins, dining facility, a ropes course, and an outdoor swimming pool. Tony and Suzie first checked with Summit Bank to see if they could borrow an additional $1 million, but unfortunately the bank turned them down as too risky. Undeterred, they promoted their idea to close friends they had made through the outdoor clinics and TEAM events. They decided to go ahead and sell shares of stock in the company to raise the additional funds for the camp. Great Adventures has authorized $1 par value common stock. When the company began on July 1, 2021, Tony and Suzie each purchased 10,000 shares (20,000 shares total) of $1 par value common stock at $1 per share. The following transactions affect stockholders' equity during the remainder of 2022: November 5 Issue an additional 100,000 shares of common stock for $10 per share. November 16 Purchase 10,000 shares of its own common stock (i.e., treasury stock) for $15 per share. November 24 Resell 4,000 shares of treasury stock at $16 per share. December 1 Declare a cash dividend on its common stock of $11,400 ($0.10 per share) to all stockholders of record on December 15. December 20 Pay the cash dividend declared on December 1. December 31 Pay $800,000 for construction of new cabins and other facilities. The entire expenditure is recorded in the Buildings account. No Date Debit Credit 1 Nov 05 1,100,000 General Journal Cash Common Stock Additional Paid-in Capital 100,000 1,000,000 Nov 16 150,000 Treasury Stock Cash 150,000 Nov 24 64,000 Cash Treasury Stock Additional Paid-in Capital 6,000 X 4,000 Dec 01 11,400 Dividends Dividends Payable 11,400 Dec 20 11,400 Dividends Payable Cash 11,400 Dec 30 800,000 Buildings Cash 800,000 Dec 31 Dec 31 No Journal Entry Required Dec 30 Buildings 800,000 Cash 800,000 Dec 31 No Journal Entry Required Dec 31 No Journal Entry Required Dec 31 15,400 X Retained Earnings Dividends 15,400 X