Required information Tony and Suzle are ready to expand Great Adventures even further in 2025. Tony believes 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 fiag. 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 participate 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 Adventures purchases outdoor gear such as ropes, helmets, harnesses, compasses, and other isiscellaneous equipment for $5,000 cash. February 25 Kendall's Boys and Girls Club participates in a one-day TEM adventure. Norsally, Tony would charge a group of this size $3,509, but he wants to encourage kids to exercise more and enjoy the outdoors so he charges the group only $3,000. Great Adventures provides these services on account. February 28 Great Adventures receives payment fron the Boys and Girls Club for the full amount owed, 1ess the 5x quick- March 19 Rayment discount. Reynold's Managenent has its employees participate in a one-day TEAM adventure. Great Adventures provides services on account for $4,00e, and Reynold's agrees to pay within 30 days. March 27 Great Adventures receives payment fron Reynold's for the full amount ourd, less the 5x quick-payment. April 7 Several men from the Elks Lodge decide to particlpate in a TEAM adventure. Great Adventures receives 57 , 590 April 14 innedlately and the event is scheduled for the following veek. April 30 The TEAM adventure is held for meabers of the Elks Lodge. May 31 H6, 00s, and Hyers agrees to pay within 30 days. June 15 month, 8x note receivable to replace the existing account receivable. several MAt groups participate in TEAl adventures. Great Adventures provides services on account for $24,000 to these groups, with payment doe in 2 uly. Required: 1. Record TEAM adventure transactions occurring during the first six months of 2025 . (If no entry is required for a porticular. tronsection/event, select "No Journal Entry Required" in the first occount field.) 1. Record TEAM adventure transactions occurring during the first six months of 2025 . (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Great Adventures purchases outdoor gear such as ropes, heimets, harnesses, compasses, and other miscellaneous equipment for $5,000cash. Note: Enter debits before credits
