No General Journal Credit Date Dec 31 Debit 780 Interest Expense Interest Payable 780 Dec 31 No Journal Entry Required 3 Dec 31 20,000 Deferred Revenue Sales Revenue 20,000 4 Dec 31 13,200 Bad Debt Expense Contingent Liability 13,200 5 Dec 31 5,200 Warranty Expense Warranty Liability 5,200 Dec 31 Sales Revenue 20,000 X Income Tax Payable 20,000 X Dec 31 19,180 % Income Tax Payable Interest Expense Bad Debt Expense Warranty Expense 780 X 13,200 5,200 Post-closing GREAT ADVENTURES, INC. Balance Sheet December 31, 2022 Assets Liabilities Current Assets: Current Liabilities: Total Current Liabilities Total Liabilities Total Current Assets Long-term Assets: Stockholders' Equity 0 Total Stockholders' Equity Total Liabilities and Stockholders'Equity Total Assets No General Journal Credit Date Dec 31 Debit 780 Interest Expense Interest Payable 780 Dec 31 No Journal Entry Required 3 Dec 31 20,000 Deferred Revenue Sales Revenue 20,000 4 Dec 31 13,200 Bad Debt Expense Contingent Liability 13,200 5 Dec 31 5,200 Warranty Expense Warranty Liability 5,200 Dec 31 Sales Revenue 20,000 X Income Tax Payable 20,000 X Dec 31 19,180 % Income Tax Payable Interest Expense Bad Debt Expense Warranty Expense 780 X 13,200 5,200 Post-closing GREAT ADVENTURES, INC. Balance Sheet December 31, 2022 Assets Liabilities Current Assets: Current Liabilities: Total Current Liabilities Total Liabilities Total Current Assets Long-term Assets: Stockholders' Equity 0 Total Stockholders' Equity Total Liabilities and Stockholders'Equity Total Assets