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I need a step by step solution At the end of 2025 , the following information is avallable for Great Adventures. - Additional interest for

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At the end of 2025 , the following information is avallable for Great Adventures. - Additional interest for five months needs to be accrued on the $34,000,6% note payable obtained on August 1, 2024. Recall that annual interest is paid each July 31 . - Assume that $14,000 of the $34,000 note discussed above is due next yeat. Record the entry to relassify the current portion of the long-term note - By the end of the year, $20,000 in gitt cards have been redeemed. The company had sold gift cards of $29,000 during the year and recorded those as Deferred Revenue - Great Adventures is a defendant in litigation involving a biking accident during one of its adventure races. The company believes the likelihood of payment occurring is probable, and the estimated amount to be paid is $16,000. - For sales of MU watches, Great Adventures offers a warranty against defect for one year. At the end of the year, the company estimates future warranty costs to be $8,000, prepare the journal entries for transactions. (It no entry Is required for a particular transaction/event, select "No Joumal Entry Required" in the first account field.) At the end of 2025, the following information is avallable for Great Adventures. - Additional interest for five months needs to be accrued on the $34,000,6% note payable obtained on August 1, 2024. Recall that annual interest is paid each July 31 - Assume that $14,000 of the $34,000 note discussed above is due next year. Record the entry to reclassify the current portion of the long-term note - By the end of the year, $20,000 in gift cards have been redeemed. The company had sold gift cards of $29,000 during the year and recorded those as Deferred Revenue. - Great Adventures is a defendant in litigation involving a biking accident duning one of its adventure races. The company believes the likelihood of payment occurting is probable, and the estimated amount to be paid is $16,000 - For sales of MU watches, Great. Adventures offers a warranty against defect for one year. At the end of the year, the compary estimates future warranty costs to be $8,000 Prepare the journal entries for transactions. (If no entry In required for a particular transaction/event, felect. "No Journal Entry Reguired in the first account field.)

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