Post transactions from August 1 through December 31 and adjusting entries on December 31 to T-accounts.

Jul.		1		Sell $17,000 of common stock to Suzie.
Jul.		1		Sell $17,000 of common stock to Tony.
Jul.		1		Purchase a one-year insurance policy for $4,440 ($370 per month) to cover injuries to participants during outdoor clinics.
Jul.		2		Pay legal fees of $1,900 associated with incorporation.
Jul.		4		Purchase office supplies of $2,000 on account.
Jul.		7		Pay for advertising of $380 to a local newspaper for an upcoming mountain biking clinic to be held on July 15. Attendees will be charged $40 on the day of the clinic.
Jul.		8		Purchase 10 mountain bikes, paying $12,700 cash.
Jul.		15		On the day of the clinic, Great Adventures receives cash of $2,400 from 60 bikers. Tony conducts the mountain biking clinic.
Jul.		22		Because of the success of the first mountain biking clinic, Tony holds another mountain biking clinic and the company receives $2,700.
Jul.		24		Pay $950 to a local radio station for advertising to appear immediately. A kayaking clinic will be held on August 10, and attendees can pay $110 in advance or $160 on the day of the clinic.
Jul.		30		Great Adventures receives cash of $5,500 in advance from 50 kayakers for the upcoming kayak clinic.
Aug.		1		Great Adventures obtains a $49,000 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 in three years, and 6% annual interest is due each year on July 31.
Aug.		4		The company purchases 14 kayaks, paying $30,000 cash.
Aug.		10		Twenty additional kayakers pay $3,200 ($160 each), in addition to the $5,500 that was paid in advance on July 30, on the day of the clinic. Tony conducts the first kayak clinic.
Aug.		17		Tony conducts a second kayak clinic, and the company receives $10,700 cash.
Aug.		24		Office supplies of $2,000 purchased on July 4 are paid in full.
Sep.		1		To provide better storage of mountain bikes and kayaks when not in use, the company rents a storage shed for one year, paying $3,240 ($270 per month) in advance.
Sep.		21		Tony conducts a rock-climbing clinic. The company receives $14,600 cash.
Oct.		17		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. The company receives $19,300 cash.
Dec.		1		Tony decides to hold the companys first adventure race on December 15. Four-person teams will race from checkpoint to checkpoint using a combination of mountain biking, kayaking, orienteering, trail running, and rock-climbing skills. The first team in each category to complete all checkpoints in order wins. The entry fee for each team is $670.
Dec.		5		To help organize and promote the race, Tony hires his college roommate, Victor. Victor will be paid $60 in salary for each team that competes in the race. His salary will be paid after the race.
Dec.		8		The company pays $1,300 to purchase a permit from a state park where the race will be held. The amount is recorded as a miscellaneous expense.
Dec.		12		The company purchases racing supplies for $2,200 on account due in 30 days. Supplies include trophies for the top-finishing teams in each category, promotional shirts, snack foods and drinks for participants, and field markers to prepare the racecourse.
Dec.		15		The company receives $26,800 cash from a total of forty teams, and the race is held.
Dec.		16		The company pays Victors salary of $2,400.
Dec.		31		The company pays a dividend of $4,800 ($2,400 to Tony and $2,400 to Suzie).
Dec.		31		Using his personal money, Tony purchases a diamond ring for $3,800. Tony surprises Suzie by proposing that they get married. Suzie accepts and they get married!