Rocky Gulde Service provides guided $1$ to $5$ doy hiking tours throughout the Rocky Mountoins. Wilderness Tours hires Rocky to leod Required:

Prepare Rocky's July $15$ journal entry to record revenue for tours given from July $1-$July $15.$

Prepare Rocky's July $31$ journal entry to record revenue for tours given from July $16-$July $31.$

Prepore Rocky's August $5$ joumal entry to record ony necessary odjustments to revenue and receipt of poyment from Wilderness.

Note: If no entry is required on a specific dete, select $"$No journal entry required" in the first eccount field.

Journal entry worksheet

$1$

$2$

Record Rocky's July $31$ joumal entry for revenue from tours given from July $16$

to July $31.$

Noter Enter debits before credits. Required:

Prepare Rocky's July $15$ journal entry to record revenue for tours given from July $1-$July $15.$

Prepare Rocky's July $31$ journal entry to record revenue for tours given from July $16-$July $31.$

Prepare Rocky's August $5$ joumal entry to record any necessary adjustments to revenue and receipt of payment from Wilderness.

Note: If no entry is required on a specific date, select $"$No journal entry required" in the first account field.

Journal entry worksheet

$1$

$2$

$3$

$4$

Record Rocky's August $5$ journal entry for the receipt of payment from

Wilderness.

Note: Enter debita before credita. Required:

Prepare Rocky's July $15$ joumal entry to record revenue for tours given from July $1-$July $15.$

Prepare Rocky's July $31$ journal entry to record revenue for tours given from July $16-$July $31.$

Prepare Rocky's August $5$ journal entry to record any necessary adjustments to revenue and receipt of payment from Wilderness.

Note: If no entry is required on a specific date, select $"$No journal entry required" in the first account field.

Journal entry worksheet

$1$

$2$

$3$

$4$

Record Rocky's August $5$ journal entry for any necessary adjustments to

revenue.

Noter Enter debits before credits.

various tours that Wildemess sells. Rocky recelves $$2,100$ per tour day, and shortly after the end of each month, Rocky learns whether

it will recelve a $$210$ bonus per tour day it guided during the previous month if its service during that month received an average

evoluotion of "excellent" by Wilderness customers. The $$2,100$ per doy and any bonus due are poid in one lump poyment shortly after

the end of each month.

On July $1,$ bosed on prior experience, Rocky estimated there is a $30\%$ chance it will earn the bonus for July tours. It guided a total of

$10$ days from July $1$ to July $15.$

On July $16,$ based on Rocky's view that it had provided excellent service during the first part of the month, Rocky revised its estimate

to on $80\%$ chance it would earn the bonus for July tours. Rocky also gulded customers for $15$ doys from July $16$ to July $31.$

On August $5,$ Rocky learned it did not recelve an average evoluation of "excellent" for its July tours, so it would not recelve any

bonus for July, and recelved all payment due for the July tours.

Rocky bases estimates of variable consideration on the expected value it expects to recelve.

Required:

Prepare Rocky's July $15$ journal entry to record revenue for tours given from July $1-$July $15.$

Prepore Rocky's July $31$ journal entry to record revenue for tours given from July $16-$July $31.$

Prepare Rocky's August $5$ journal entry to record any necessary adjustments to revenue and recelpt of payment from Wilderness.

Note: If no entry is required on a specific date, select $"$No journal entry required" in the first account field.

Journal entry worksheet

Record Rocky's July $15$ journal entry for revenue from tours given from July $1$

to July $15.$

Note: Enter debits before credits.