HW Chapter 05: Receivables and Sales Seved Help Save & Exit Submit Check my work 1 Adventure Fishing provides guided fishing tours. The company charges $170 per person but offers a 20% discount to parties of four or more. Consider the following transactions during the month of May. 20 points May 2 May 7 May 9 ellook Print References Charlene books a fishing tour with Adventure Fishing for herself and four friends at the group discount pries (0680-$136 5). The tour is scheduled for May 7. The fishing tour occurs. Adventure Fishing asks that payment be made within 30 days of the tour and offers S discount for payment within 15 days. Charlene is upset that no one caught a single fish and asks management for a discount. Adventure Pishing has strict policy of no discounts related to number of fish caught. May 15 Upon deeper investigation, management of Adventure Fishing discovers that Charlene's tour was led by a new guide who did not take the group to some of the better fishing spots. In concession, management offers allowance of 40% of the amount due. May 20 Adventure Fishing receives the amount owed by Charlene. Required: 1. Record the necessary transaction(s) for Adventure Fishing on each date. 2. Show how Adventure Fishing would present net revenues in its income statement. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Record the necessary transaction(s) for Adventure Fishing on each date. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations. Round your answers to 2 decimal places.) View transaction list View Journal entry worksheet No Date General Journal Debit Credit