RWP5-1 (Static) Great Adventures Continuing Problem (GL) Tony and Suzie are ready to expand Great Adventures even further in 2025 . Tony believes that many groupt in the community (for example, Boys and Girls Clubs, church groups, civic groups, and local businesses) would like to hold one-day outings for their members. Groups would engage in outdoor activities such as rock climbing. fishing. Capture the flap. paintbal, 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 iearn the importance of TEAM (Together Everyone Achicves More) Tony knows that most people are not familar with these types of activiles, so to encourape business he allows groups to particlpate in the event before paying. He otfers a 5% quick-payment discount to those that pay within fo days after the event He also guarantees that at least eight hours of outdoor activities will be provided or the customer will receive: a 20.0 dscount. For the first six months of the year, the following activities occur for TEAM operations? January 24 deeat ddyentures purchases butdoor gear such as ropes, belmets, harnesses. conpoyies. and ofher etscefianepus equignent for 55,000 cash. February 25 Kendal1's. lloys and Girls Club particlpates in a one-tey feag adienture. Normally. Tony wald charke a snoup of this 53.0as. Great Adventures provades these services on account. Aprit 14 The TEAr adventore is beld for menbers of the Elisp loderi Apri1 be Hyers Manufacturing participates. In a Tews adventure. Great aduentures prowides services an account fori 51 , aoe. and piayiar. Pyers agrees to poy within 30 days. Zune 25 recelvoble to replace the oxisting account recelvabde. Eroups, wath payment due in July. Required: Consider the following information as of Jurie 30,2025 - Surie estimates uncollectble accounts to be 10% of accounts receivable from the MBA groups pn fune 15 Record the adjusting entry for uncollectible accounts - Accrue orie month of interest on the note receivable from Myers Manufacturing". - Note payable is cue in 2,years. Required: Consider the following information as of June 30, 2025 . - Suzie estimates uncollectible accounts to be 10% of accounts ricefvable from the MBA groups on lune is. Record the adjusting entry for uncollectible accounts. - Accrue one month of interest on the note receivable from Myers Mancfucturing - Note payable is due in 2 years. 1. Record each of the transactions listed above in the 'General Journal' tab. Review the 'General Ledgerf and the 'Trial H Balance' tabs to see the effect of the transactions on the account balances. 2. Record the adjusting entries in the 'General Journat' tab. 3. Review the adjusted Trial Balance' as of June 30, 2025, in the 'Tral Balance' tab. 4. Prepare an income statement for the period ended June 20,2025 , in the 'Income Statement' tab. 5. Prepare a classified balance sheet as of june 30,2025 in the 'Balance sheet' tab." 6. Record the closing entries in the 'General Joumal' tab. RWP5-1 (Static) Great Adventures Continuing Problem (GL) Tony and Suzie are ready to expand Great Adventures even further in 2025 . Tony believes that many groupt in the community (for example, Boys and Girls Clubs, church groups, civic groups, and local businesses) would like to hold one-day outings for their members. Groups would engage in outdoor activities such as rock climbing. fishing. Capture the flap. paintbal, 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 iearn the importance of TEAM (Together Everyone Achicves More) Tony knows that most people are not familar with these types of activiles, so to encourape business he allows groups to particlpate in the event before paying. He otfers a 5% quick-payment discount to those that pay within fo days after the event He also guarantees that at least eight hours of outdoor activities will be provided or the customer will receive: a 20.0 dscount. For the first six months of the year, the following activities occur for TEAM operations? January 24 deeat ddyentures purchases butdoor gear such as ropes, belmets, harnesses. conpoyies. and ofher etscefianepus equignent for 55,000 cash. February 25 Kendal1's. lloys and Girls Club particlpates in a one-tey feag adienture. Normally. Tony wald charke a snoup of this 53.0as. Great Adventures provades these services on account. Aprit 14 The TEAr adventore is beld for menbers of the Elisp loderi Apri1 be Hyers Manufacturing participates. In a Tews adventure. Great aduentures prowides services an account fori 51 , aoe. and piayiar. Pyers agrees to poy within 30 days. Zune 25 recelvoble to replace the oxisting account recelvabde. Eroups, wath payment due in July. Required: Consider the following information as of Jurie 30,2025 - Surie estimates uncollectble accounts to be 10% of accounts receivable from the MBA groups pn fune 15 Record the adjusting entry for uncollectible accounts - Accrue orie month of interest on the note receivable from Myers Manufacturing". - Note payable is cue in 2,years. Required: Consider the following information as of June 30, 2025 . - Suzie estimates uncollectible accounts to be 10% of accounts ricefvable from the MBA groups on lune is. Record the adjusting entry for uncollectible accounts. - Accrue one month of interest on the note receivable from Myers Mancfucturing - Note payable is due in 2 years. 1. Record each of the transactions listed above in the 'General Journal' tab. Review the 'General Ledgerf and the 'Trial H Balance' tabs to see the effect of the transactions on the account balances. 2. Record the adjusting entries in the 'General Journat' tab. 3. Review the adjusted Trial Balance' as of June 30, 2025, in the 'Tral Balance' tab. 4. Prepare an income statement for the period ended June 20,2025 , in the 'Income Statement' tab. 5. Prepare a classified balance sheet as of june 30,2025 in the 'Balance sheet' tab." 6. Record the closing entries in the 'General Joumal' tab
