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Cash Asset 3 4 S 6 7 8 9 Date I-Jul I-Jul I-Jul 2-Ju1 a-Jul 7-Ju1 8-Ju1 15-Jul 22-Jul 24-Jul Transaction Description Sell $10,000 of common stock to suzie Sell $10,000 Of common stock to Tony purchase a 1 year insurance policy of 4,800 pav legal fees of 1.500 associated with incorporating the company purchase office supplies Of 1800 on account pav $300 to a local newspaper for advertising to appear immidiatelyfor an upcoming event. Attendees Will be charged $50 for the clinic Purchase 10 Mountain bikes pavine $12,000 cash On the day of the clinic, Great Adventures receives cash Of $1,000 from 20 bikers, the Other 20 bikers promises to pay later. Tony conducts the mountain biking clinic Because ofthe success ofthe first mountain biking clinic, Tony holds another one and the company receives $2,300. plus the 20 bikers from before also aid their bill. pay $700 to a local radio station for advertising to appear immediately. A kayaking clinic will be held on 8/10 and the attendees can pay $100 in advance of rlini.- Balance Sheet Noncash Asset Account Contra Asset (accumulated depreciation) Liabilities Contribute d Capital Retained Earnings Revenues Income Statement Expenses Net Income Account Amount Accoun' Amount