Great Adventures Problem AP5-1 (GL) Tony and Suzie are ready to expand Great Adventures even further in 2022. Tony believes that many groups in the community (for 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 hunts, nature hikes, and so on. The purpose of these one-day events would be for each member of the group to learn the importance of TEAM (Together Everyone Achieves More). Tony knows that most people are not familiar with these types of activities, so to encourage business he allows groups to participate in the event before paying. He offers a 4% 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 six months of the year, the following activities occur for TEAM operations. Jan. 24 Great Adventures purchases outdoor gear such as ropes, helmets, harnesses, compasses, and other miscellaneous equipment for $5,400 cash. Feb. 25 Mr. Kendall's Boy Scout roop participates in a one-day TEAM adventure. Normally, Tony would charge a group of this size $3,900, but he wants to encourage kids to exercise more and enjoy the outdoors so he charges the group only $3,400. Great Adventures provides these services on account. Feb. 28 The Boy Scout troop pays the full amount owed, less the 4% quick-payment discount. Mar. 19 Reynold's Management has its employees participate in a one-day TEAM adventure. Great Adventures provides services on account for $4,400, and Reynold's agrees to pay within 30 days. Mar. 27 Reynold's pays the full amount owed, less the 4% quick-payment discount. Apr. 7 Several men from the Elks Lodge decide to participate in a TEAM adventure. They pay $7,900, and the event is scheduled for the following week. Apr. 14 The TEAM adventure is held for members of the Elks Lodge. Apr. 30 Myers Manufacturing participates in a TEAM adventure. Great Adventures provides services on account for $9,600, and Myers agrees to pay within 30 days. May 31 Myers Manufacturing fails to pay the amount owed within the specified period and agrees to sign a three-month, 6% note receivable to replace the existing account receivable. Jun. 15 Several MBA groups participate in TEAM adventures. Great Adventures provides services on account for $26,000 to these groups, with payment due in July. Consider the following information as of June 30, 2022. Suzie estimates uncollectible accounts to be 8% of accounts receivable (which does not include the $9,600 note receivable from Myers Manufacturing). Prepare the adjusting entry for uncollectible accounts. Accrue one month of interest on the note receivable from Myers Manufacturing. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction llat View journal entry worksheet No Date Account Title Debit Credit 1 Jan 24 5,400 Equipment Cash 5,400 2 Feb 25 3,400 Accounts Receivable Service Revenue 3,400 3 Feb 28 Cash Sales Discounts Accounts Receivable 3.284 138 3,400 4 Mar 19 4.400 Accounts Receivable Service Revenue 4,400 5 Mar 27 Cash Sales Discounts Accounts Receivable 4,400 178 4.224 6 Apr 07 7.900 Cash Deferred Revenue 7,900 7 Apr 14 7.900 Deferred Revenue Service Revenue 7,900 8 Apr 30 9.600 Accounts Receivable Service Revenue 9,600 9 May 31 9,600 Notes Receivable Accounts Receivable 9.600 10 Jun 15 28.000 Accounts Receivable Service Revenue 28,000 11 Jun 30 2,080 Bad Debt Expense Allowance for Uncollectible Accounts 2,080 12 Jun 30 48 Interest Receivable Interest Revenue 48 13 Jun 30 51,564 48 Service Revenue Interest Revenue Retained Earnings Sales Discounts 51,300 312 14 Jun 30 Retained Earnings Depreciation Expense Supplies Expense Salaries Expense Bad Debt Expense Interest Expense Rent Expense Insurance Expense Great Adventures Problem AP5-1 (GL) Tony and Suzle are ready to expand Great Adventures even further in 2022. Tony believes that many groups in the community (for example, Boy Scouts, church groups, clvic 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 hunts, nature hikes, and so on. The purpose of these one-day events would be for each member of the group to learn the Importance of TEAM (Together Everyone Achieves More). Tony knows that most people are not familiar with these types of activities, so to encourage business he allows groups to participate in the event before paying. He offers a 4% 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 six months of the year, the following activities occur for TEAM operations. Jan. 24 Great Adventures purchases outdoor gear such as ropes, helmets, harnesses, compasses, and other miscellaneous equipment for $5,4ee cash. Feb. 25 Mr. Kendall's Boy Scout troop participates in a one-day TEAM adventure. Normally, Tony would charge a group of this size $3,980, but he wants to encourage kids to exercise more and enjoy the outdoors so he charges the only $3,480. Great Adventures provides these services on account. Feb. 28 The Boy Scout troop pays the full amount owed, less the 4X quick-payment discount. Mar. 19 Reynold's Management has its employees participate in a one-day TEAM adventure. Great Adventures provides services on account for $4,480, and Reynold's agrees to pay within 30 days. Mar. 27 Reynold's pays the full amount owed, less the 4% quick-payment discount. Apr. 7 Several men from the Elks Lodge decide to participate in a TEAM adventure. They pay $7,990, and the event is scheduled for the following week. Apr. 14 The TEAM adventure is held for members of the Elks Lodge. Apr. 30 Myers Manufacturing participates in a TEAM adventure. Great Adventures provides services on account for $9,680, and Myers agrees to pay within 30 days. May 31 Myers Manufacturing fails to pay the amount owed within the specified period and agrees to sign a three-month, 6x note receivable to replace the existing account receivable. Jun. 15 Several MBA groups participate in TEAM adventures. Great Adventures provides services on account for $26,eee to these groups, with paynent due in July. Consider the following Information as of June 30, 2022 Suzle estimates uncollectible accounts to be 8% of accounts receivable (which does not include the $9.600 note recelvable from Myers Manufacturing). Prepare the adjusting entry for uncollectible accounts. Accrue one month of Interest on the note receivable from Myers Manufacturing Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet 1. Record each of the transactions listed above in the 'General Journal' tab. Review the 'General Ledger' and the Trial Balance' tabs to see the effect of the transactions on the account balances. 2. Record the adjusting entries in the 'General Journal' tab. 3. Review the adjusted 'Trial Balance' as of June 30, 2022, in the 'Trial Balance' tab. 4. Prepare an income statement for the period ended June 30, 2022, in the 'Income Statement' tab. 5. Prepare a classified balance sheet as of June 30, 2022 in the Balance Sheet' tab. 6. Record the closing entries in the 'General Journal' tab. Requirement General Joumal > Suzle has not reconciled the company's cash balance with that of the bank since the company was started. She asks Summit Bank to provide her with a six-month bank statement. To save time. Suzle makes deposits at the bank only on the first day of each month. Member FDIC 1124537774 Dec. 31, 2021 Ending Balance December 31, 2021 $66, 280 SUMMIT BANK Leading You to the Top Account Holder: Great Adventures, Inc. Account Number: Statement Date: Account Sunmary Beginning Balance Deposits and Credits Withdrawals and Debits July 1, 2021 NO Total No Total $0 $111,760 11 $45, 480 Account Details Deposits and Credits Withdrawals and Debits Date Amount Desc. Date No. Amount Desc. 7/1 $ 30,eee 7/1 $ 4,320 8/1 8,160 DEP 7/7 182 1,388 CHK 8/1 26,000 7/7 260 DC 9/1 17,eee DEP 7/14 103 11,600 CHK 9/30 180 INT 7/24 660 DC 10/1 12,888 DEP 8/9 184 22,400 CHK 11/1 17.500 DEP 8/24 1,760 DC 12/31 280 INT 9/2 195 1,920 9/30 50 SF 12/10 196 1,160 CHK 12/31 50 SF DEP 101 CHK DEP Daily Balance Date Amount 7/1 $25,680 7/7 24,120 7/14 12,520 7/24 11,868 8/1 46,20 8/9 23,620 8/24 21,860 9/1 38,860 9/2 36,940 9/30 36,990 10/1 49,790 11/1 67,290 12/10 66,130 12/31 $66,280 CHK $111,760 $45,480 Desc. DEP Customer deposit CHK Customer check SF Service fees INT Interest earned DC Debit card After comparing the two balances, Suzie has some concern because the bank's balance of $66.280 is substantially less than the company's balance of $88,080. 2-a. Prepare Great Adventures' bank reconciliation for the six-month period ended December 31, 2021. (Amounts to be deducted should be indicated with a minus sign. Total entries to the same account together when entering in the bank reconciliation.) GREAT ADVENTURES, INC Bank Reconciliation December 31, 2021 Bank's Cash Balance Company's Cash Balance Per Bank Statement S 68,280 Per General Ledger $ Deposits Outstanding Interest Earned Checks Outstanding (8,000) Service Fee 30.000 88,080 300 (100) Bank Balance Per Reconciliation S 88.280 Company Balance Per Reconciliation $ 88,280 2-b. Record any necessary entries to adjust cash. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Total entries to the same account together when entering in the journal entry carousel.) View transaction Mat View journal entry worksheet No Date General Joumal Debit Credit 1 Dec 31, 2021 Cash 300 Interest Revenue 300 2 Dec 31, 2021 100 Service Fee Expense Cash 100 View transaction list Journal entry worksheet Several men from the Elks Lodge decide to participate in a TEAM adventure. They pay $7,900, and the event is scheduled for the following week. Note: Enter debits before credits. Account Title Credit Date Apr 07 Debit 7,900 Cash Deferred Revenue 7,900 Record entry Clear entry View general journal The TEAM adventure is held for members of the Elks Lodge. Note: Enter debits before credits. Date Credit Account Title Deferred Revenue Service Revenue Debit 7,900 Apr 14 7,900 Record entry Clear entry View general journal View transaction list Journal entry worksheet View transaction list Journal entry worksheet Myers Manufacturing fails to pay the amount owed within the specified period and agrees to sign a three-month, 6% note receivable to replace the existing account receivable. Note: Enter debits before credits. Debit Credit Date May 31 Account Title Notes Receivable Accounts Receivable 9,600 9,600 Record entry Clear entry View general journal View transaction list Journal entry worksheet Several MBA groups participate in TEAM adventures. Great Adventures provides services on account for $26,000 to these groups, with payment due in July Note: Enter debits before credits. Credit Date Jun 15 Account Title Accounts Receivable Service Revenue Debit 26,000 26,000 Record entry Clear entry View general journal View transaction list Journal entry worksheet Suzie estimates uncollectible accounts to be 8% of accounts receivable (which does not include the $9,600 note receivable from Myers Manufacturing). Prepare the adjusting entry for uncollectible accounts. Note: Enter debits before credits. Credit Date Jun 30 Account Title Bad Debt Expense Allowance for Uncollectible Accounts Debit 2,080 2,080 Record entry Clear entry View general journal View transaction list Journal entry worksheet Accrue one month of interest on the note receivable from Myers Manufacturing Note: Enter debits before credits. Debit Credit Date Jun 30 Account Title Interest Receivable Interest Revenue 48 48 Record entry Clear entry View general journal View transaction list Journal entry worksheet Record the closing entry for the revenue accounts. Note: Enter debits before credits. Debit Credit Date Jun 30 Account Title No Journal Entry Required Record entry Clear entry View general journal View transaction list Journal entry worksheet Adjusted GREAT ADVENTURES, INC. Trial Balance June 30, 2022 Account Title Debit Credit $ 50,664 26,176 2,080 9.600 48 800 85,400 24,000 3.600 Cash Accounts Receivable Allowance for Uncollectible Accounts Notes Receivable Interest Receivable Prepaid Rent Equipment Accumulated Depreciation Accounts Payable Interest Payable Notes Payable Common Stock Retained Earnings Service Revenue Interest Revenue Sales Discounts Depreciation Expense Supplies Expense Salaries Expense Bad Debt Expense Interest Expense Rent Expense Insurance Expense Total 1,850 38,000 36,000 49,730 51,300 48 312 8,800 900 16,000 2.080 980 2,000 3,200 $ 206,960 $ 206,608 Great Adventures Problem AP5-1 (GL) Tony and Suzie are ready to expand Great Adventures even further in 2022. Tony believes that many groups in the community (for 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 hunts, nature hikes, and so on. The purpose of these one-day events would be for each member of the group to learn the importance of TEAM (Together Everyone Achieves More). Tony knows that most people are not familiar with these types of activities, so to encourage business he allows groups to participate in the event before paying. He offers a 4% 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 six months of the year, the following activities occur for TEAM operations. Jan. 24 Great Adventures purchases outdoor gear such as ropes, helmets, harnesses, compasses, and other miscellaneous equipment for $5,400 cash. Feb. 25 Mr. Kendall's Boy Scout roop participates in a one-day TEAM adventure. Normally, Tony would charge a group of this size $3,900, but he wants to encourage kids to exercise more and enjoy the outdoors so he charges the group only $3,400. Great Adventures provides these services on account. Feb. 28 The Boy Scout troop pays the full amount owed, less the 4% quick-payment discount. Mar. 19 Reynold's Management has its employees participate in a one-day TEAM adventure. Great Adventures provides services on account for $4,400, and Reynold's agrees to pay within 30 days. Mar. 27 Reynold's pays the full amount owed, less the 4% quick-payment discount. Apr. 7 Several men from the Elks Lodge decide to participate in a TEAM adventure. They pay $7,900, and the event is scheduled for the following week. Apr. 14 The TEAM adventure is held for members of the Elks Lodge. Apr. 30 Myers Manufacturing participates in a TEAM adventure. Great Adventures provides services on account for $9,600, and Myers agrees to pay within 30 days. May 31 Myers Manufacturing fails to pay the amount owed within the specified period and agrees to sign a three-month, 6% note receivable to replace the existing account receivable. Jun. 15 Several MBA groups participate in TEAM adventures. Great Adventures provides services on account for $26,000 to these groups, with payment due in July. Consider the following information as of June 30, 2022. Suzie estimates uncollectible accounts to be 8% of accounts receivable (which does not include the $9,600 note receivable from Myers Manufacturing). Prepare the adjusting entry for uncollectible accounts. Accrue one month of interest on the note receivable from Myers Manufacturing. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction llat View journal entry worksheet No Date Account Title Debit Credit 1 Jan 24 5,400 Equipment Cash 5,400 2 Feb 25 3,400 Accounts Receivable Service Revenue 3,400 3 Feb 28 Cash Sales Discounts Accounts Receivable 3.284 138 3,400 4 Mar 19 4.400 Accounts Receivable Service Revenue 4,400 5 Mar 27 Cash Sales Discounts Accounts Receivable 4,400 178 4.224 6 Apr 07 7.900 Cash Deferred Revenue 7,900 7 Apr 14 7.900 Deferred Revenue Service Revenue 7,900 8 Apr 30 9.600 Accounts Receivable Service Revenue 9,600 9 May 31 9,600 Notes Receivable Accounts Receivable 9.600 10 Jun 15 28.000 Accounts Receivable Service Revenue 28,000 11 Jun 30 2,080 Bad Debt Expense Allowance for Uncollectible Accounts 2,080 12 Jun 30 48 Interest Receivable Interest Revenue 48 13 Jun 30 51,564 48 Service Revenue Interest Revenue Retained Earnings Sales Discounts 51,300 312 14 Jun 30 Retained Earnings Depreciation Expense Supplies Expense Salaries Expense Bad Debt Expense Interest Expense Rent Expense Insurance Expense Great Adventures Problem AP5-1 (GL) Tony and Suzle are ready to expand Great Adventures even further in 2022. Tony believes that many groups in the community (for example, Boy Scouts, church groups, clvic 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 hunts, nature hikes, and so on. The purpose of these one-day events would be for each member of the group to learn the Importance of TEAM (Together Everyone Achieves More). Tony knows that most people are not familiar with these types of activities, so to encourage business he allows groups to participate in the event before paying. He offers a 4% 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 six months of the year, the following activities occur for TEAM operations. Jan. 24 Great Adventures purchases outdoor gear such as ropes, helmets, harnesses, compasses, and other miscellaneous equipment for $5,4ee cash. Feb. 25 Mr. Kendall's Boy Scout troop participates in a one-day TEAM adventure. Normally, Tony would charge a group of this size $3,980, but he wants to encourage kids to exercise more and enjoy the outdoors so he charges the only $3,480. Great Adventures provides these services on account. Feb. 28 The Boy Scout troop pays the full amount owed, less the 4X quick-payment discount. Mar. 19 Reynold's Management has its employees participate in a one-day TEAM adventure. Great Adventures provides services on account for $4,480, and Reynold's agrees to pay within 30 days. Mar. 27 Reynold's pays the full amount owed, less the 4% quick-payment discount. Apr. 7 Several men from the Elks Lodge decide to participate in a TEAM adventure. They pay $7,990, and the event is scheduled for the following week. Apr. 14 The TEAM adventure is held for members of the Elks Lodge. Apr. 30 Myers Manufacturing participates in a TEAM adventure. Great Adventures provides services on account for $9,680, and Myers agrees to pay within 30 days. May 31 Myers Manufacturing fails to pay the amount owed within the specified period and agrees to sign a three-month, 6x note receivable to replace the existing account receivable. Jun. 15 Several MBA groups participate in TEAM adventures. Great Adventures provides services on account for $26,eee to these groups, with paynent due in July. Consider the following Information as of June 30, 2022 Suzle estimates uncollectible accounts to be 8% of accounts receivable (which does not include the $9.600 note recelvable from Myers Manufacturing). Prepare the adjusting entry for uncollectible accounts. Accrue one month of Interest on the note receivable from Myers Manufacturing Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet 1. Record each of the transactions listed above in the 'General Journal' tab. Review the 'General Ledger' and the Trial Balance' tabs to see the effect of the transactions on the account balances. 2. Record the adjusting entries in the 'General Journal' tab. 3. Review the adjusted 'Trial Balance' as of June 30, 2022, in the 'Trial Balance' tab. 4. Prepare an income statement for the period ended June 30, 2022, in the 'Income Statement' tab. 5. Prepare a classified balance sheet as of June 30, 2022 in the Balance Sheet' tab. 6. Record the closing entries in the 'General Journal' tab. Requirement General Joumal > Suzle has not reconciled the company's cash balance with that of the bank since the company was started. She asks Summit Bank to provide her with a six-month bank statement. To save time. Suzle makes deposits at the bank only on the first day of each month. Member FDIC 1124537774 Dec. 31, 2021 Ending Balance December 31, 2021 $66, 280 SUMMIT BANK Leading You to the Top Account Holder: Great Adventures, Inc. Account Number: Statement Date: Account Sunmary Beginning Balance Deposits and Credits Withdrawals and Debits July 1, 2021 NO Total No Total $0 $111,760 11 $45, 480 Account Details Deposits and Credits Withdrawals and Debits Date Amount Desc. Date No. Amount Desc. 7/1 $ 30,eee 7/1 $ 4,320 8/1 8,160 DEP 7/7 182 1,388 CHK 8/1 26,000 7/7 260 DC 9/1 17,eee DEP 7/14 103 11,600 CHK 9/30 180 INT 7/24 660 DC 10/1 12,888 DEP 8/9 184 22,400 CHK 11/1 17.500 DEP 8/24 1,760 DC 12/31 280 INT 9/2 195 1,920 9/30 50 SF 12/10 196 1,160 CHK 12/31 50 SF DEP 101 CHK DEP Daily Balance Date Amount 7/1 $25,680 7/7 24,120 7/14 12,520 7/24 11,868 8/1 46,20 8/9 23,620 8/24 21,860 9/1 38,860 9/2 36,940 9/30 36,990 10/1 49,790 11/1 67,290 12/10 66,130 12/31 $66,280 CHK $111,760 $45,480 Desc. DEP Customer deposit CHK Customer check SF Service fees INT Interest earned DC Debit card After comparing the two balances, Suzie has some concern because the bank's balance of $66.280 is substantially less than the company's balance of $88,080. 2-a. Prepare Great Adventures' bank reconciliation for the six-month period ended December 31, 2021. (Amounts to be deducted should be indicated with a minus sign. Total entries to the same account together when entering in the bank reconciliation.) GREAT ADVENTURES, INC Bank Reconciliation December 31, 2021 Bank's Cash Balance Company's Cash Balance Per Bank Statement S 68,280 Per General Ledger $ Deposits Outstanding Interest Earned Checks Outstanding (8,000) Service Fee 30.000 88,080 300 (100) Bank Balance Per Reconciliation S 88.280 Company Balance Per Reconciliation $ 88,280 2-b. Record any necessary entries to adjust cash. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Total entries to the same account together when entering in the journal entry carousel.) View transaction Mat View journal entry worksheet No Date General Joumal Debit Credit 1 Dec 31, 2021 Cash 300 Interest Revenue 300 2 Dec 31, 2021 100 Service Fee Expense Cash 100 View transaction list Journal entry worksheet Several men from the Elks Lodge decide to participate in a TEAM adventure. They pay $7,900, and the event is scheduled for the following week. Note: Enter debits before credits. Account Title Credit Date Apr 07 Debit 7,900 Cash Deferred Revenue 7,900 Record entry Clear entry View general journal The TEAM adventure is held for members of the Elks Lodge. Note: Enter debits before credits. Date Credit Account Title Deferred Revenue Service Revenue Debit 7,900 Apr 14 7,900 Record entry Clear entry View general journal View transaction list Journal entry worksheet View transaction list Journal entry worksheet Myers Manufacturing fails to pay the amount owed within the specified period and agrees to sign a three-month, 6% note receivable to replace the existing account receivable. Note: Enter debits before credits. Debit Credit Date May 31 Account Title Notes Receivable Accounts Receivable 9,600 9,600 Record entry Clear entry View general journal View transaction list Journal entry worksheet Several MBA groups participate in TEAM adventures. Great Adventures provides services on account for $26,000 to these groups, with payment due in July Note: Enter debits before credits. Credit Date Jun 15 Account Title Accounts Receivable Service Revenue Debit 26,000 26,000 Record entry Clear entry View general journal View transaction list Journal entry worksheet Suzie estimates uncollectible accounts to be 8% of accounts receivable (which does not include the $9,600 note receivable from Myers Manufacturing). Prepare the adjusting entry for uncollectible accounts. Note: Enter debits before credits. Credit Date Jun 30 Account Title Bad Debt Expense Allowance for Uncollectible Accounts Debit 2,080 2,080 Record entry Clear entry View general journal View transaction list Journal entry worksheet Accrue one month of interest on the note receivable from Myers Manufacturing Note: Enter debits before credits. Debit Credit Date Jun 30 Account Title Interest Receivable Interest Revenue 48 48 Record entry Clear entry View general journal View transaction list Journal entry worksheet Record the closing entry for the revenue accounts. Note: Enter debits before credits. Debit Credit Date Jun 30 Account Title No Journal Entry Required Record entry Clear entry View general journal View transaction list Journal entry worksheet Adjusted GREAT ADVENTURES, INC. Trial Balance June 30, 2022 Account Title Debit Credit $ 50,664 26,176 2,080 9.600 48 800 85,400 24,000 3.600 Cash Accounts Receivable Allowance for Uncollectible Accounts Notes Receivable Interest Receivable Prepaid Rent Equipment Accumulated Depreciation Accounts Payable Interest Payable Notes Payable Common Stock Retained Earnings Service Revenue Interest Revenue Sales Discounts Depreciation Expense Supplies Expense Salaries Expense Bad Debt Expense Interest Expense Rent Expense Insurance Expense Total 1,850 38,000 36,000 49,730 51,300 48 312 8,800 900 16,000 2.080 980 2,000 3,200 $ 206,960 $ 206,608