Outback Expeditions provides guided tours in scenic mountainous areas. After the first 11 months of operations in 2024, Outback has the following account balances. OUTBACK EXPEDITIONS Trial Balance November 30, 2024 Accounts Debits Cash Accounts Receivable $12,200 6,000 Prepaid Insurance 1,900 Equipment 25,600 Land Accounts Payable. Notes Payable Common Stock Retained Earnings Dividends Service Revenue Advertising Expense Salaries Expense Rent Expense Totals Credits 192,500 4,800 51,500. 150,000 15,600 6,500 76,500 12,500 29,800 11,400 $298,400 $298,400 The following transactions occur during December 2024: December 1 Pay rent for mountain lodges for the month of December, $2,400. December 5 December 8 Provide quided tour to customers in Grand Teton National Park for cash, $4,300. Borrow from a local bank by signing a note payable, $25,000. The note is due in one year with a 61 interest rate. December 12 Receive cash from customers as payment for a guided tour that occurred on November 28, $5,000. December 13 Issue additional shares of common stock for cash, $35,000. December 15 Pay employee salaries for the first half of the month, $2,700. December 17 Purchase advertising on several local radio stations to be aired during the following two weeks, $2,500. December 22 Provide guided tour to customers in Yellowstone National Park on account, $4,700. December 23 One of the customers from the December 22 tour claims to have seen the legendary creature Bigfoot. The company believes this exciting news will create additional revenue of $35,000 next year. December 26 Purchase several pieces of hiking equipment to give customers a more enjoyable adventure, such as night- vision goggles, GPS, long-range binoculars, and video cameras, for cash, $30,000. December 28 Pay cash on accounts payable, $3,000. December 31 Pay dividends to stockholders, $3,500. Required: 1. Record each transaction. 2. & 3. Post each transaction to the appropriate T-accounts and calculate the balance of each account at December 31, 2024. (Hint: Be sure to include the balance at the beginning of December in each T-account.) 4. Prepare a trial balance as of December 31, 2024. General Journal T Accounts Trial Balance Record each transaction. (If no entry is required for a particular transaction/event, select "No Journal Entry Require field.) View transaction list View journal entry worksheet No Date General Journal 1 December 01 Rent Expense Cash 2 December 05 Cash Service Revenue 3 December 08 Cash Notes Payable Debit Credit 2,400 2,400 4,300 4,300 25,000 25,000 4 December 12 Cash 5,000 Accounts Receivable 5,000 5 December 13 Cash Common Stock 6 December 15 Salaries Expense Cash 35,000 35,000 2,700 2,700 7 December 17 Advertising Expense Cash 2,500 2,500 ' 8 December 22 Accounts Receivable 4,700 Service Revenue 4,700 10 December 26 Equipment 30,000 Cash 30,000 11 December 28 Accounts Payable 3,000 Cash 3,000 12 December 31 Dividends Cash 3,500 3,500 General Journal T Accounts Trial Balance Post each transaction to the appropriate T-accounts and Calculate the balance of each account at December 31, 2024 (He Be sure to include beginning of December in each T-account.) Cash Accounts Receivable Debit Credit Debit Credt Beginning Balance 12.200 December 5 December 4.300 25.000 2.400 December 1 2,700 December 15 Beginning Balance December 22 8.000 4700 5.000 December 12 December 12 5,000 December 13 35,000 30,000 December 26 3.000 December 28 3,500 December 31 Ending Balance + Ending Balance Beginning Balance Ending Balance Prepaid Insurance Equipment Debit Credit Debit Credit 1,900 Beginning Balance December 25 25.600 30.000 Ending Balance Land Accounts Payable Debit Credit Debit Credit Beginning Balance 192.500 Beginning Balance December 28 3.000 Ending Balance Ending Balance Notes Payable Common Stock Debit Credit Debit Beginning Balance 51,500 Beginning Balance 25,000 December 8 Ending Balance Ending Balance Retained Earnings Debit Beginning Balance Service Revenue Debit Beginning Balance Credit 150.000 35.000 December 13 Dividends Credit Debit Credit 15,600 Beginning Balance December 31 6.500 3.500 Advertising Expense Credit Debit Credit 76,500 4.300 December 5 4,700 December 22 Beginning Balance December 17 12.500 2.500 Salaries Expense Debit Credit Debit Beginning Balance December 15 29.800 2.700 Beginning Balance December 1 Rant Expense 11,400 2400 Credt Complete this question by entering your answers in the tabs below. General Journal T Accounts Trial Balance Prepare a trial balance as of December 31. OUTBACK EXPEDITIONS Trial Balance December 31, 2024 Debit Credit Accounts Cash Accounts Receivable Prepaid Insurance Equipment Land Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Advertising Expense Salaries Expense Rent Expense Totals $ 0 $