Journal entry worksheet By the end of the year, $20,000 in gift cards have been redeemed. The company had sold gift cards of $27,800 during the year and recorded those as Deferred Revenue. Record the adjusting entry. Note; Enter debits before credits. Journal entry worksheet Record the closing entry for revenue accounts. Note: Enter debits before credits. Journal entry worksheet Record the closing entry for expense and loss accounts. Note: Enter debits before credits. Journal entry worksheet 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 $6,800. Record the adjusting entry. Note: Enter debits before credits. Journal entry worksheet Assume that $12,800 of the $32,800 note discussed above is due next year. Record the entry to reclassify the current portion of the long-term note. Note: Enter debits before credits. Journal entry worksheet 1 7 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 $14,800. Record the adjusting entry. Note: Enter debits before crecits. At the end of 2025 , the following information is available for Great Adventures. - Additional interest for five months needs to be accrued on the $32,800,6% note payable obtained on August 1, 2024, Recall that onnual interest is paid each July 31. - Assume that $12,800 of the $32,800 note discussed above is due next year. Record the entry to reclassify the current portion of thi long-term note. - By the end of the year, $20,000 in gift cards have been redeemed. The company had sold gif cards of $27,800 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 Hikelthood of payment occurring is proboble, ond the estimated amount to be paid is $14,800. - For soles 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 $6,800. Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Requlred" in the first account fieid.) Journal entry worksheet 4567 Additional interest for five months needs to be accrued on the $32,800,6% note payable obtained on August 1,2024 . Recall that annual interest is paid each July 31 . Record the adjusting entry. Note: Enter debits before credits