On July $1,2024,$ Tony and Suzie organize their new company as a corporation, Great Adventures Incorporated. The articles of incorporation state that the corporation will sell $23,000$ shares of common stock for $$1$ each. Each share of stock represents a unit of ownership. Tony and Suzie will act as co$-$presidents of the company. The following business activities occur during July for Great Adventures.

July $1$ Sell $$11,500$ of common stock to Suzie.

July $1$ Sell $$11,500$ of common stock to Tony.

July $1$ Purchase a one$-$year insurance policy for $$3,960($ $$330$ per month$)$ to cover injuries to participants during outdoor clinics.

July $2$ Pay legal fees of $$1,200$ associated with incorporation.

July $4$ Purchase office supplies of $$1,900$ on account.

July $7$ Pay $$350$ to a local newspaper for advertising to appear immediately for an upcoming mountain biking clinic to

be held on July $15.$ Attendees will be charged $$60$ the day of the clinic.

July $8$ Purchase $10$ mountain bikes, paying $$10,200$ cash.

July $15$ On the day of the clinic, Great Adventures receives cash of $$3,600$ from $60$ bikers. Tony conducts the mountain biking clinic.

July $22$ Because of the success of the first mountain biking clinic, Tony holds another mountain biking clinic and the company receives $$4,000.$

July $24$ Pay $$910$ to a local radio station for advertising to appear immediately. A kayaking clinic will be held on August $10,$ and attendees can pay $$120$ in advance or $$170$ on the day of the clinic.

July $30$ Great Adventures receives cash of $$7,200$ in advance from $60$ kayakers for the upcoming kayak clinic.