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Iony and suzie are reacy to expand Great Acventures even further in Ub, Iony believes that many groups in the communty (tor example, Boys and

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Iony and suzie are reacy to expand Great Acventures even further in Ub, Iony believes that many groups in the communty (tor example, Boys and Girls Clubs, church groups, civic groups, and local businesses) would like to hold one-day outings for their members. Groups would engage in outdoor activities such as rock climbing. fishing, capture the flag. paintball, treasure hunits, scavenger hunts, nature hikes, and so on. The purpose of these one-day events would be for each member of the group to learn the importance of TEAM (Together Everyone Achieves More). Tony knows that most people are not familiar with these types of activities, so to encourage business he allows groups to participate in the ovent before paying. He offers a 5% quick-payment discount to those that pay within 10 days after the event. He also 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 follching activities occur for TEAM operations. January 24 Great Adventures purchased outdoor gear wuch as ropes, helmets, harnessea, compasses, and other niscellaneous oquiphent for 55,000 cash. of this =ize $3,500, but he vants to encourage kids to exereine more and eajoy the outdoors so he chargea the group only $3,000. Creat Adventurea provides these services on account. Yebruary 28 Great Adventures recelves payment from the Boya and cirls club for the full anount owed, less the 5 t quicipaybent discount. Karch 13 Reynold'a kanagenent has its eaployeas participace in a ona-day rzas adventure. Great Advoaturas providea services on account for $4,000, and Reynold'a agrees to pay vithin 30 dayll. immediately and the event is sohedaled for the following week. Apri1. 14 The TEM adventure is held for menbera of the rikil todjo. Ape11 30 Hyers Ranufacturisg partieipates in a reAr adventure. Creat Adventurea provides Aervicen ed account for $6,000, and Nyers agrees to pay within 30 dayz. May 31 Myers Manutacturing failn to pay the asount owed vithin the specifled period and agreens, to sigh a tehketmonth, 81 note receivable to replace the exilating account receivabie. to thene groupe, with payment due is duly. Required: Consider the following information as of June 30,2025 . - Suzie estimotes uncollectible accounts to be 10% of accounts receivable from the MBA groups on June 15 . Rocord the odjusting entry for uncollectible accounts. - Accrue one month of interest on the note receivable from Myers Monufacturing - Note payable is due in 2 years

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