Prepare a post - closing trial balance as of December 3 1 , 2 0 2 4 .

On July 1, 2018, Tony and Suzie organize their new company as a corporation, Great Adventures, Inc. The following transactions occur from August 1 through December 31. Also, the balances are provided for the month ended July 31. The articles of incorporation state that the corporation will sell 33,000 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. Jul. 1 Sell $16,500 of common stock to Suzie. Jul. 1 Sell $16,500 of common stock to Tony. Jul. 1 Purchase a one-year insurance policy for $4,320 ($360 per month) to cover injuries to participants during outdoor clinics. Jul. 2 Pay legal fees of $1,300 associated with incorporation. Jul. 4 Purchase office supplies of $1,700 on account. Jul. 7 Pay for advertising of $330 to a local newspaper for an upcoming mountain biking clinic to be held on July 15. Attendees will be charged $40 the day of the clinic. Jul. 8 Purchase 10 mountain bikes, paying $16,600 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 Jul. 24 Jul. Because of the success of the first mountain biking clinic, Tony holds another mountain biking clinic and the company receives $2,850. Pay for advertising of $870 to a local radio station for a kayaking clinic to be held on August 10. Attendees can pay $110 in advance or $160 on the day of the clinic. 30 Great Adventures receives cash of $4,400 in advance from 40 kayakers for the upcoming kayak clinic.