Great Adventures Problem AP6-1 (GL) (The following information applies to the questions displayed below. Now that operations for outdoor clinics and TEAM events are running smoothly, Suzie thinks of another area for business expansion. She notices that a few clinic participants wear multiuse (MU) watches. Beyond the normal timekeeping features of most watches, MU watches are able to report temperature, altitude, and barometric pressure. MU watches are waterproof, so moisture from Kayaking, rain, fishing, or even diving up to 100 feet won't damage them. Suzie decides to have MU watches available for sale at the start of each clinic. The following transactions relate to purchases and sales of watches during the second half of 2022. All watches are sold for $580 each. Jul. 17 Purchased 62 watches for $9,300 ($150 per watch) on account. Jul. 31 Sold 48 watches for $27,840 cash. Aug. 12 Purchased 48 watches for $7,680 ($160 per watch) cash. Aug. 22 Sold 38 watches for $22,040 on account. Sep. 19 Paid for watches purchased on July 17. Sep. 27 Receive cash of $13,224 for watches sold on account on August 22. Oct. 27 Purchased 100 watches for $17,000 ($170 per watch) cash. Nov. 20 Sold 98 watches for $56,840 cash. Dec. 4 Purchased 108 watches for $19,440 ($180 per watch) on account. Dec. 8 Sold 48 watches for $27,840 on account. Late in December, the next generation of multiuse (MU II) watches is released. In addition to all of the features of the MU watch, the MU II watches are equipped with a global positioning system (GPS) and have the ability to download and play songs and videos off the Internet. The demand for the original MU watches is greatly reduced. As of December 31, the estimated net realizable value of MU watches is only $100 per watch. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet | Requirement General lournal General Ledger Trial Balance Income Statement Balance Sheet thumbnail_image.png Notice the dropdown below that gives the options to select the unadjusted, adjusted or post-closing trial balance. The option you choose will be the values used to populate the income statement and balance sheet tabs. Q Search Unadjusted GREAT ADVENTURES, INC. Tral Balance December 08, 2022 Inventory 6380 Account Title Credit 16 Debit 100.814 54656 Dec 31 $ Cash Accounts Receivable ALOwance for Uncollectible Accounts Sales Revenue Service Revenue 134 580 46.500 x 2,800 15480 49.000 X 26,000 23,040 850 14,900 17 Dec 31 X 143,320 Retained Earnings Cost of Goods Sold 44.820 X X 39,000 21,740 34.450 34 48,500 134,500 X 390 Equipment Accumulated Depreciation Accounts Payable interest Payable Income Tax Payable Nches Payable Common Stock Rind Earnings Service Revere - Sales Revenue Sales Discounts al Raw Coel of Goods Sold Depreciation Expense Supples Expense Relar Espen ad Debt Expense Interest Expense Rent Expense Income Tax Expers Expres Total 140 X X x % 37.910 18.000 900 20.000 X 2.800 2.200 2 800 14900 5200 343.000 $ S 343,080 Prey 1 of 1 Next