QUESTION 1 (CORRECT JOURNAL ENTRIES SPECIFICALLY 6 AND 7 PLEASE. The rest have been corrected by myself but please feel free to correct those as well so i can double check. ENTER the correct numbers for debit and credit, the general journal columns are 100% correct since they have a checkmark! :

JOURNAL ENTRY 6 ASKS:

6. Record the closing entry for revenue accounts.

JOURNAL ENTRY 7 ASKS:

7.Record the closing entry for expense and loss accounts.

JOURNAL ENTRIES 1-5:

1.Additional interest for five months needs to be accrued on the $30,600, 6% loan obtained on August 1, 2021. Recall that annual interest is paid each July 31.

2.Assume that $10,600 of the $30,600 loan discussed above is due next year.

3.By the end of the year, $20,000 in gift cards have been redeemed. The company had sold gift cards of $25,600 during the year and recorded those as Deferred Revenue.

4.Great Adventures is a defendant in litigation involving a biking accident during one of its adventure races. The company believes the likelihood of payment occurring is probable, and the estimated amount to be paid is $12,600.

5.For sales of MU watches, Great Adventures offers a warranty against defect for one year. At the end of the year, the company estimates future warranty costs to be $4,600.

anymore needed info please feel free to comment ASAP

Chapter 08: HmWrk (Part 02) A Saved 2 At the end of 2022, the following information is available for Great Adventures. 15 points Additional interest for five months needs to be accrued on the $30,600, 6% loan obtained on August 1, 2021. Recall that annual interest is paid each July 31. Assume that $10,600 of the $30,600 loan discussed above is due next year. By the end of the year, $20,000 in gift cards have been redeemed. The company had sold gift cards of $25,600 during the year and recorded those as Deferred Revenue. Great Adventures is a defendant in litigation involving a biking accident during one of its adventure races. The company believes the likelihood of payment occurring is probable, and the estimated amount to be paid is $12,600. For sales of MU watches, Great Adventures offers a warranty against defect for one year. At the end of the year, the company estimates future warranty costs to be $4,600. eBook Print References Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the closing entry for revenue accounts. Note: Enter debits before credits. Required" in the first account field.) No Date General Journal Debit Credit 1 Dec 31 820 Interest Expense Interest Payable 820 2 Dec 31 12,800 Notes Payable (Long-term) Notes Payable (Current) >> 12,800 3 Dec 31 20.000 Deferred Revenue Sales Revenue 20.000 4 Dec 31 Loss 14,800 Contingent Liability 14,800 5 Dec 31 8.800 Warranty Expense Warranty Liability 6.800 6 Dec 31 45.900 DO OOOOO Service Revenue Sales Revenue Interest Revenue Sales Discounts Retained Earnings 148.000 400 490 193.810 X 7 Dec 31 145,080 Retained Earnings Cost of Goods Sold 39,900 18,650 X 7.100 X 3.800 X Depreciation Expense Insurance Expense Rent Expense Supplies Expense Salaries Expense Bad Debt Expense Repairs and Maintenance Expense Interest Expense Income Tax Expense Warranty Expense Loss 1,200 X 31,000 3.100 680 2,150 X 15.000 X 8.800 14.800