I need help with parts 6 and 7 within the journal entry portion of question 10.

6. Record the closing entry for revenue accounts.

7. Record the closing entry for expense and loss accounts.

Problem explanations and formulas of how you got to the answer are much appreciated. Thank you

Journal entry worksheet 1 2 3 5 Record the closing entry for revenue accounts. Note: Enter debits before credits. At the end of 2025 , the following information is available for Great Adventures. - Additional interest for five months needs to be accrued on the $33,000,6% note payable obtained on August 1, 2024. Recall that annual interest is paid each July 31 . - Assume that $13,000 of the $33,000 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 $28,000 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 $15,000. - 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 $7,000. 8 Answer is not complete. Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Joumal Entry Required" in the first account fleld.)