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At the end of 2022 , the following information is available for Great Adventures. - Additional interest for five months needs to be accrued on the $32,200,6% loan obtained on August 1,2021 . Recall that annual interest is paid each July 31 . - Assume that $12,200 of the $32,200 loan discussed above is due next year. - By the end of the year, $20,000 in gift cards have been redeemed. The company had sold gift cards of $27,200 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 likelihood of payment occurring is probable, and the estimated amount to be paid is $14,200. - 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 $6,200. GREAT ADVENTURES, INC. Trial Balance Journal entry worksheet Additional interest for five months needs to be accrued on the $32,200,6% loan obtained on August 1, 2021. Recall that annual interest is paid each July 31. Note: Enter debits before credits. Journal entry worksheet Assume that $12,200 of the $32,200 loan discussed above is due next year. Note: Enter debits before credits. Journal entry worksheet By the end of the year, $20,000 in gift cards have been redeemed. The company had sold gift cards of $27,200 during the year and recorded those as Deferred Revenue. Note: Enter debits before credits. Journal entry worksheet 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 $14,200. Note: Enter debits before credits. Journal entry worksheet 1 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 $6,200. Note: Enter debits before credits. Journal entry worksheet 1 Record the closing entry for revenue accounts. Note: Enter debits before credits. Record the closing entry for expense and loss accounts. Note: Enter debits before credits. At the end of 2022 , the following information is available for Great Adventures. - Additional interest for five months needs to be accrued on the $32,200,6% loan obtained on August 1,2021 . Recall that annual interest is paid each July 31 . - Assume that $12,200 of the $32,200 loan discussed above is due next year. - By the end of the year, $20,000 in gift cards have been redeemed. The company had sold gift cards of $27,200 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 likelihood of payment occurring is probable, and the estimated amount to be paid is $14,200. - 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 $6,200. GREAT ADVENTURES, INC. Trial Balance Journal entry worksheet Additional interest for five months needs to be accrued on the $32,200,6% loan obtained on August 1, 2021. Recall that annual interest is paid each July 31. Note: Enter debits before credits. Journal entry worksheet Assume that $12,200 of the $32,200 loan discussed above is due next year. Note: Enter debits before credits. Journal entry worksheet By the end of the year, $20,000 in gift cards have been redeemed. The company had sold gift cards of $27,200 during the year and recorded those as Deferred Revenue. Note: Enter debits before credits. Journal entry worksheet 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 $14,200. Note: Enter debits before credits. Journal entry worksheet 1 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 $6,200. Note: Enter debits before credits. Journal entry worksheet 1 Record the closing entry for revenue accounts. Note: Enter debits before credits. Record the closing entry for expense and loss accounts. Note: Enter debits before credits