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Journal Entries (Like what account) then the debit and credit. Second pic is what table looks like per date. Thank you!! held on August 10
Journal Entries (Like what account) then the debit and credit. Second pic is what table looks like per date. Thank you!!
held on August 10 , and attendees can pay $100 in advance or $150 on the day of the clinic. Ju1. 30 Great Adventures receives cash of $4,000 in advance from 40 kayakers for the upcoming kayak olinic. Aug. 1 Great Adventures obtains a $30,000 low-interest loan for the company from the city council, which h. recently passed an initiative encouraging business development related to outdoor activities. The loan is due in three years, and 6 ennual interest is due each year on July 31. Aug. 4 The company purchases 14 kayaks, paying $28,000 cash. Aug. 10 Twenty additional kayakers pay $3,000 (\$150 each), in addition to the $4,000 that was paid in advanc on July 30 , on the day of the clinic. Tony conducts the first kayak clinic. Aug. 17 Tony conducts a second kayak clinic, and the company receives $10,500 cash. Aug. 24 office supplies of $1,800 purchased on July 4 are paid in full. Sep. 1 To provide better storage of mountain bikes and kayaks when not in use, the company rents a storage shed for one year, paying $2,400 ( $200 per month) in advance. Sep. 21 Tony conduets a rock-elimbing clinic. The company receives $13,200 cash. Oct. 17 Tony conducts an orienteering clnic. Participants practice how to understand a topographical map, read an altimeter, use a corpass, and orient through heavily wooded areas. The company receives $17,900 cash. Dec. 1 Tony decides to hold the company's first adventure race on December 15. Four-person teams will race from checkpoint to checkpoint using a combination of mountain biking, kayaking, orienteering, trail running, and rock-elimbing skil1s. The firat team in each category to completo all eheckpoints in order wins. The entry fee for each team is $500. Dec. 5 To help organize and promote the race, Tony hires his college roommate, Victor. Victor will be paid $50 in ealary for each team that competes in the race. Hia salary will be paid after the race. Dec. 8 The company pays $1,200 to purchane a permit from a state park where the race will be held. The amount is recorded an a mincellaneous expense. Dec. 12 The company purchases racing nupplies for $2,800 on account due in 30 days. Suppliea include trophies for the top-finishing teams in each eategory, promotional shirts, snack foods and drinks for participants, and field markern to prepare the racecourae. Dec. 15 The company receives $20,000 cash from a total of forty teams, and the race is held. Dec. 16 The company pays victor's salary of $2,000. Dec. 31 The company pays a dividend of $4,000($2,000 to Tony and $2,000 to suzie). Dec. 31 Using his personal money, Tony purchases a diamond ring for $4,500. Tony surprises suzie by proposing that they get married. Suzie accepts and they get married! Great Adventures obtains a $30,000 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 . Record the appropriate journal Note: Enter debits before credits Step by Step Solution
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