incorporation state that the corporation will sell $32,000$ shares of common stock for $$1$ each. Each share of stock represents a unit of ownership. Tony and Suzie will act as co$-$presidents of the company. The following business activities occur during July for Great Adventures.

July $1$ Sell $$16,000$ of common stock to Suzie.

July $1$ Sell $$16,000$ of common stock to Tony.

Jurchase a one$-$year insurance policy for $$5,160($ $$430$ per month$)$ to cover injuries to participants during outdoor

July $2$ clinics,

July $4$ Pay legal fees of $$1,600$ associated with incorporation.

July $7$ urchase office supplies of $$1,800$ on account.

July $8$ Purchase $10$ mountain bikes, paying $$15,900$ cash.

July $22$

July $24$

July $30$ Because of the success of the

the company receives $$4,650.$ $$820$ to a local radio station for advertising to appear immediately. A kayaking clinic will be held on August $10,$ and attendees can pay $$110$ in advance or $$160$ on the day of the clinic.

Great Adventures receives total cash of $$6,600$ in advance from $60$ kayakers for the upcoming kayak clinic.

The following transactions occur over the remainder of $2024.$

August $1$ Great Adventures obtains a $$38,000$ low$-$interest loan for the company from the city council, which has recently passed an initiative encouraging business development related to outdoor activities. The loan is due in three years, and $6\%$ annual interest is due each year on July $31.$

August $4$ The company purchases $14$ kayaks, paying $$14,000$ cash.

August $10$ Tony and Suzie conduct the first kayak clinic. In addition to the $$6,600$ that was received in advance from kayakers on

August $17$ July $30,$ the company receives additional cash of $$3,200$ from twenty new kayakers on the day of the clinic.

August $24$ Tony and Suzie conducts a second kayak clinic, and the company receives $$11,300$ cash.

September $1$ Office supplies of $$1,800$ purchased on July $4$ are paid in full.

To provide better storage of mountain bikes and kayaks when not in use, the company rents a storage shed for one year, paying $$4,560($ $$380$ per month$)$ in advance.

September $21$ Tony and Suzie conduct a rock$-$climbing clinic. The company receives $$13,600$ cash.

October $17$ Tony and Suzie conduct an orienteering clinic. Participants practice how to understand a topographical map, read an altimeter, use a compass, and orient through heavily wooded areas. The company receives $$18,500$ cash.

December $1$ Tony and Suzie decide to hold the company's first adventure race on December $15.$ Four$-$person teams will race from