please Record the closing entry for revenue and expense accounts. income summary is not an option for this. the options are shown in picture.

RWP5-1 (Algo) Great Adventures Continuing Problem (GL) Tony and Suzie are ready to expand Great Adventures even further in 2025. Tony believes that many groups in the community (for example, Boys and Girls Clubs, church groups, civic groups, and local businesses) would like to hold one-day outings for their members. Groups would engage in outdoor activities such as rock climbing, fishing, capture the flag, paintball, treasure hunts, scavenger hunts, nature hikes, and so on. The purpose of these one-day events would be for each member of the group to learn the importance of TEAM (Together Everyone Achleves More). Tony knows that most people are not familiar with these types of activities, so to encourage business he allows groups to participate in the event before paying. He offers a 5% quick-payment discount to those that pay within 10 days after the event. He also guarantees that at least eight hours of outdoor activities will be provided or the customer will receive a 20% discount. For the first six months of the year, the following activities occur for TEAM operations. January 24 Great Adventurea purehases outdoor gear such an ropes, belfeta, harneasea, compassea, and other niscellancoui equipent for 54,200 eash. Tebruary 25 Kendall's boym and cirli club participates in a one-day meAM adventure. Mormally, zony would charge a group of this sime $2,700, but be want to encourage kida to exerclse more and enjoy the outdoore so he oharges the group only $2,200, Great hdventures provides these servicen on account. Tebruary 28 Great Adventures receiven payment from the Boys and Girli club for the full anount oved, lea the 51 quickMareh 19 Payment diseount. Meynold'a Managenent has ita exployees partioipate in a one-day TEMM adventure. Great Mdventures provides Mareh 27 areat hdventurea receives payment fren Reynold' for the fall amount oued, leae the 5 t guiek-payment. April 7 Several men tron the Elka Lodge decide to participate in a TbNh adventure, Great Adventurea receivea 56 , 7oo April 14 The TEMK adventure is held for monbers of the slka Lodge. April 30 Zyere Manufaeturing partieipaten in a Tens adveature. Great Adventures providea eervices on acopunt for that at least eight hours of outdoor activities will be provided or the customer will recelve a 20% discount. For the first six months of the year, the following actlitities occur for TEAM operations. January 24 Great Adventuren purchasen outdoor gear auch an ropen, helmets, harnessen, compasses, and other miscellaneous equipment for $4,200 cash. February 25 Kendall' m Doy and Girls club participateal in a one-day TeaM adventure. Nornally, Tony would charge a group of this size $2,700, but be want, to encourage kida to exereige more and enjoy the outdoors so be chargea the groug only $2,200. Great Adventuren provides these services on account. Februnry 28 Great Adventures receivea pdyment from the Boys and Girls clab for the full asount owed, less the 58 quiekWareh 19 paynent dincount. Mareh 19 Reynold'a Managenent has ita enployees participate in a one-day TeaM adventure. Great Mdventures providea March 27 nervices on account for $3,200, and Reynold's agrees to pay within 30 days. March 27 Great Adventuren roceives paynent fron Reynold'n for the full amount owed, less the 51 quick-payment April 7 Several nen from the s1ks Lodge decide to partieipate in a TEMM adventure. Great Adventures receives $6,700. April 14- imediately and the event is socheduled for the following week. April 14 The TEAM adventure is held for nesbers of the Elkn Lodge. April 30 Myers Manufacturing partieipates in a TEM adventure. Great Adventuren provides sorvices on account for June: 15 bonth, 81 note receivable to replace the existing account receivable. Required: Consider the following information as of June 30,2025 . - Suzie estimates uncollectible accounts to be 10% of accounts receivoble from the MBA groups on June 15 . Record the adjusting entry for uncollectble accounts. - Accrue one month of interest on the note recelvable from Myers Manufacturing. - Note payable is due in 5 yoars. Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet Note: Enter debits before credits. Enter debits before credits. Deoreciation Expense 125: Notes Receivable 130: Interest Receivable 135: Inventory 140: Supplies 145: Prepaid Rent ma 1/6 piak 3 Baferse 160: Land 165: Equipment 166: Accumulated Depreciation 167: Buildings 201: Accounts Payable ifca ile lax Expestses Deoreciation Expense 201: Accounts Payable 205: Salaries Payable 210: Utilities Payable 215: Interest Payable 220: Income Taxes Payable min: 1 : Rividendse Pavahle 230: Deferred Revenue 235: Notes Payable 310: Common Stock 315: Treasury Stock 320: Additional Paid-in Capital ma 33 in Retainede Farninne 400: Service Revenue 410: Interest Revenue 415: Sales Discounts 440: Sales Revenue 500: Cost of Goods Sold Depreciation Expense 500: Cost of Goods Sold 505: Advertising Expense 510: Depreciation Expense 515: Supplies Expense 520: Salaries Expense IIIC AE I IX EXperiSE the closing entry for expense accounts. - dahite hofore credits. RWP5-1 (Algo) Great Adventures Continuing Problem (GL) Tony and Suzie are ready to expand Great Adventures even further in 2025. Tony believes that many groups in the community (for example, Boys and Girls Clubs, church groups, civic groups, and local businesses) would like to hold one-day outings for their members. Groups would engage in outdoor activities such as rock climbing, fishing, capture the flag, paintball, treasure hunts, scavenger hunts, nature hikes, and so on. The purpose of these one-day events would be for each member of the group to learn the importance of TEAM (Together Everyone Achleves More). Tony knows that most people are not familiar with these types of activities, so to encourage business he allows groups to participate in the event before paying. He offers a 5% quick-payment discount to those that pay within 10 days after the event. He also guarantees that at least eight hours of outdoor activities will be provided or the customer will receive a 20% discount. For the first six months of the year, the following activities occur for TEAM operations. January 24 Great Adventurea purehases outdoor gear such an ropes, belfeta, harneasea, compassea, and other niscellancoui equipent for 54,200 eash. Tebruary 25 Kendall's boym and cirli club participates in a one-day meAM adventure. Mormally, zony would charge a group of this sime $2,700, but be want to encourage kida to exerclse more and enjoy the outdoore so he oharges the group only $2,200, Great hdventures provides these servicen on account. Tebruary 28 Great Adventures receiven payment from the Boys and Girli club for the full anount oved, lea the 51 quickMareh 19 Payment diseount. Meynold'a Managenent has ita exployees partioipate in a one-day TEMM adventure. Great Mdventures provides Mareh 27 areat hdventurea receives payment fren Reynold' for the fall amount oued, leae the 5 t guiek-payment. April 7 Several men tron the Elka Lodge decide to participate in a TbNh adventure, Great Adventurea receivea 56 , 7oo April 14 The TEMK adventure is held for monbers of the slka Lodge. April 30 Zyere Manufaeturing partieipaten in a Tens adveature. Great Adventures providea eervices on acopunt for that at least eight hours of outdoor activities will be provided or the customer will recelve a 20% discount. For the first six months of the year, the following actlitities occur for TEAM operations. January 24 Great Adventuren purchasen outdoor gear auch an ropen, helmets, harnessen, compasses, and other miscellaneous equipment for $4,200 cash. February 25 Kendall' m Doy and Girls club participateal in a one-day TeaM adventure. Nornally, Tony would charge a group of this size $2,700, but be want, to encourage kida to exereige more and enjoy the outdoors so be chargea the groug only $2,200. Great Adventuren provides these services on account. Februnry 28 Great Adventures receivea pdyment from the Boys and Girls clab for the full asount owed, less the 58 quiekWareh 19 paynent dincount. Mareh 19 Reynold'a Managenent has ita enployees participate in a one-day TeaM adventure. Great Mdventures providea March 27 nervices on account for $3,200, and Reynold's agrees to pay within 30 days. March 27 Great Adventuren roceives paynent fron Reynold'n for the full amount owed, less the 51 quick-payment April 7 Several nen from the s1ks Lodge decide to partieipate in a TEMM adventure. Great Adventures receives $6,700. April 14- imediately and the event is socheduled for the following week. April 14 The TEAM adventure is held for nesbers of the Elkn Lodge. April 30 Myers Manufacturing partieipates in a TEM adventure. Great Adventuren provides sorvices on account for June: 15 bonth, 81 note receivable to replace the existing account receivable. Required: Consider the following information as of June 30,2025 . - Suzie estimates uncollectible accounts to be 10% of accounts receivoble from the MBA groups on June 15 . Record the adjusting entry for uncollectble accounts. - Accrue one month of interest on the note recelvable from Myers Manufacturing. - Note payable is due in 5 yoars. Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet Note: Enter debits before credits. Enter debits before credits. Deoreciation Expense 125: Notes Receivable 130: Interest Receivable 135: Inventory 140: Supplies 145: Prepaid Rent ma 1/6 piak 3 Baferse 160: Land 165: Equipment 166: Accumulated Depreciation 167: Buildings 201: Accounts Payable ifca ile lax Expestses Deoreciation Expense 201: Accounts Payable 205: Salaries Payable 210: Utilities Payable 215: Interest Payable 220: Income Taxes Payable min: 1 : Rividendse Pavahle 230: Deferred Revenue 235: Notes Payable 310: Common Stock 315: Treasury Stock 320: Additional Paid-in Capital ma 33 in Retainede Farninne 400: Service Revenue 410: Interest Revenue 415: Sales Discounts 440: Sales Revenue 500: Cost of Goods Sold Depreciation Expense 500: Cost of Goods Sold 505: Advertising Expense 510: Depreciation Expense 515: Supplies Expense 520: Salaries Expense IIIC AE I IX EXperiSE the closing entry for expense accounts. - dahite hofore credits