Required information RWP5-1 (Algo) Great Adventures Continuing Problem [The following information applies to the questions displayed below.] Tony and Suzie are ready to expand Great Adventures even further in 2025. Tony belleves that many groups in the community (for example, Boys and Girls Clubs, church groups, civic groups, and local businesses) would like to hold oneday 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 Achieves More). Tony knows that most people are not familiar with these types of activities, so to encourage business he allows groups to particlpate 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 Adventuren purchasen outdoor gear such an ropes, helmete, harnessee, conpassen, and other mincellaneous equipment for 55,300 eash. February 25 Kendal1' boys and Cirla club partielpaten in a one-day Trak adventure. Normaliy, Tony would charge a group of thin aize $3,800, but he want in to encourage kide to exercise more and enjoy the outdoors so he ehargen the group only 53,300, Great Mdventures provides these nervices on account. rebruary 20 Great Adventures recelven payment tron the Boya and dirla club for the full amount oved, lene the Kareh is Keynold'in Hanagenent han its enployees participate in a one-day TEMM adventure. Great Miventures Aprit 7 Saynent discount. Apri1 th receiven 97,100 ismediately and the event in nehedaled for the following veek. Apri1 is the ren adventure is held for nenbers of the Elkn todge. Aprit so Myers Manufacturing partioipaten in a revs adventure. Great hdventuren provides nervices on May 31 Kyere Yanuterturing fails to pay the to pay within 30 dayw. Several hisen, growote raceivable to replace the existing aceosint receivable. toe 525,500 to these groops, with paynent due in doly. Several MBA groups participate in TEAM adventures. Great Adventuren provides services on account for $25,500 to these groups, with payment due in July. RWP5-1 Part 2 Great Adventures Continuing Problem 2. Consider the following information as of June 30,2025. a. Suzie estimates uncollectible accounts to be 10% of accounts recelvable from the MBA groups on June 15. Record the adjusting entry for uncollectible accounts. b. Accrue one month of interest on the note recelvable from Myers Manufacturing. c. Prepare a partial balance sheet showing the net accounts recelvable section. Complete this question by entering your answers in the tabs below. Suzie estimates uncollectible accounts to be 10% of accounts recelvable from the MBA groups on June 15. Record the adjusting entry for uncollectible accounts. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record adjusting entry for uncollectible accounts. Complete this question by entering your answers in the tabs below. Accrue one month of interest on the note receivable from Myers Manufacturing. (If no entry is required for select "No Journal Entry Required" in the first account field.) Journal entry worksheet D. Accrue one montn or interest on the note receivade mom myers vianuracturing. c. Prepare a partial balance sheet showing the net accounts recelvable section. Complete this question by entering your answers in the tabs below. Prepare a partial balance sheet showing the net accounts recelvable section. (Amounts to be deducted should be indicated by a minus sign.)
