Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I have everything except the last one. i cant seem to figure it out. please confirm if 13 is correct and what 14 would be.

I have everything except the last one. i cant seem to figure it out.
image text in transcribed
image text in transcribed
please confirm if 13 is correct and what 14 would be. image text in transcribed
image text in transcribed
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 ike to hold one-day outings for their membors. Grougs would engage in outdoor activitios such as rock climbing, fishing, capture the flag, paintbail, treasure hunts, scovenger hunts, nature hikes, and so on. The purpose of these cne-day events would be for each member of the group to leam the importnnce of TEAM (Together Everyone Achieves More). Tony knows that most people are not familiar with these types of activities, so to encourage business he aliows groups to participote in the event before paying. He otfers a 6% quick-payment discount to those that pay within 10 days after the event He aiso guarantees. that at least eight hours of outdoor activities will be provided or the customer will recelve a 20% discount. For the first six months of the year, the following activities occur for TEAM operations. 3ak. 24-Great Adventures potchnses vutdsor gear sueb an ropen, helmets, harnesses, canpensed, and other niscellacesose equipaent tor 14, 300 eash. this sire 32, 300, bot he wante to eneourage kids to exerelie more and enjoy the outdoors so he cherges the qroup only $2,300. Crest Adventures prevides these eervites be accoent. Mar. 19 heysold's Menagenent has its employees partieipate in a one-day the adveature. Grebe Aaventureo provides achedalad for the followiog veth. Apz. 14 The ziny adceniture is held for menters of the rika todge. tha Myors togrees to pay within 30 deya. 81 noth recelyable to replace the eristing ncooant receivahle. these groopt, with payment doe is July. Consider the following information as of June 30,2022 . - Surie estimates uncosectible accounts to be 5% of accounts recelvable fwhich does not include the $54,000 note receivable from Myers Manufscturingl. Prepare the adjusting entry for uncollectible accounts - Accrue one morth of interest on the note recelvable from Myers Manafocturing. Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Jo in the first account field.) Journal entry worksheet Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Jour in the first account field.) 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 ike to hold one-day outings for their membors. Grougs would engage in outdoor activitios such as rock climbing, fishing, capture the flag, paintbail, treasure hunts, scovenger hunts, nature hikes, and so on. The purpose of these cne-day events would be for each member of the group to leam the importnnce of TEAM (Together Everyone Achieves More). Tony knows that most people are not familiar with these types of activities, so to encourage business he aliows groups to participote in the event before paying. He otfers a 6% quick-payment discount to those that pay within 10 days after the event He aiso guarantees. that at least eight hours of outdoor activities will be provided or the customer will recelve a 20% discount. For the first six months of the year, the following activities occur for TEAM operations. 3ak. 24-Great Adventures potchnses vutdsor gear sueb an ropen, helmets, harnesses, canpensed, and other niscellacesose equipaent tor 14, 300 eash. this sire 32, 300, bot he wante to eneourage kids to exerelie more and enjoy the outdoors so he cherges the qroup only $2,300. Crest Adventures prevides these eervites be accoent. Mar. 19 heysold's Menagenent has its employees partieipate in a one-day the adveature. Grebe Aaventureo provides achedalad for the followiog veth. Apz. 14 The ziny adceniture is held for menters of the rika todge. tha Myors togrees to pay within 30 deya. 81 noth recelyable to replace the eristing ncooant receivahle. these groopt, with payment doe is July. Consider the following information as of June 30,2022 . - Surie estimates uncosectible accounts to be 5% of accounts recelvable fwhich does not include the $54,000 note receivable from Myers Manufscturingl. Prepare the adjusting entry for uncollectible accounts - Accrue one morth of interest on the note recelvable from Myers Manafocturing. Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Jo in the first account field.) Journal entry worksheet Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Jour in the first account field.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial accounting

Authors: Walter T. Harrison Jr., Charles T. Horngren, C. William Thom

9th edition

978-0132751216, 132751127, 132751216, 978-0132751124

More Books

Students also viewed these Accounting questions

Question

(1) What do they do well?

Answered: 1 week ago

Question

(2) What do they not do so well?

Answered: 1 week ago