Please solve from 3 to 8.

AP3-1 The transactions for July presented in AP 2-1 (on pages 103-104) are repeated here July Sell $10,000 of common stock to Suzie. 1 Sell $10,000 of common stock to Tony. 1 Purchase a one-year insurance policy for $4,800 ($400 per month) to cover injuries to participants during outdoor clinics. Pay legal fees of $1,500 associated with incorporation. Purchase office supplies of $1,800 on account Pay for advertising of $300 to a local newspaper for an upcoming mountain biking clinic to be held on July 15. Attendees will be charged $50 the day of the clinic Purchase 10 mountain bikes, paying $12,000 cash On the day of the clinic, Great Adventures receives cash of $2,000 from 40 bikers. Tony conducts the mountain biking clinic. Because of the success of the first mountain biking clinic, Tony holds another mountain biking clinic and the company receives $2,300. Pay for advertising of $700 to a local radio station for a kayaking clinic be held on August 10. Attendees can pay $100 in advance or $150 on the day of the clinic. Great Adventures receives cash of $4,000 in advance from 40 kayakers f the upcoming kayak clinic. 2 4 7 8 15 24 30 The following transactions occur over the remainder of the year. Great Adventures obtains a $30,000 low-interest loan for the company from the city council, which has recently passed an initiative encouraging business development related to outdoor activities. The loan is due irn three years, and 6% annual interest is due each year on July 31. The company purchases 14 kayaks, costing $28,000 Twenty additional kayakers pay $3,000 ($150 each), in addition to the $4,000 that was paid in advance on July 30, on the day of the clinic. Tony conducts the first kavak clinic. Tony conducts a second kayak clinic, and the company receives $10,500 cash. Office supplies of $1,800 purchased on July 4 are paid in full. To provide better storage of mountain bikes and kayaks when not in use, the company rents a storage shed, purchasing a one-year rental policy for $2,400 ($200 per month) Tony conducts a rock-climbing clinic. The company receives $13,200 cash. Tony conducts an orienteering clinic. Participants practice how to understand a topographical map, read an altimeter, use a compass, and orient through heavily wooded areas. Clinic fees total $17,900. Aug. 1 Aug. 4 Aug. 10 Aug. 17 Aug. 24 Sep. 1 Sep. 21 Oct. 17