RWP6-1 (Static) Great Adventures Continuing Case (GL) Now that operations for outdoor clinics and TEAM events are running smoothly. Suzie thinks of another area for business expansion. She notices that a few clinic participants wear multiuse (MU) watches. Beyond the normal timekeeping features of most watches, MU watches are able to report temperature, altitude, and barometric pressure. MU watches are waterproof, so moisture from kayaking. rain, fishing, or even diving up to 100 feet won't damage them. Suzie decides to have MU watches available for sale at the start of each clinic. The following transactions relate to purchases and sales of watches during the second half of 2025 . All watches are sold for $500 each. July 17 July 31 August 12 August 22 september 10 septemer 2 October 27 Nayember 20 Decenber. Decemloert 5 Purchased 50 watehes for 57,500 ( 5150 per watch) on accocint, Sold 48 watches fon 520,003 cash. Purchased 40 wotehes for $6,400 ( $160 per watch) cash. Sold 30 watches for $15,090 on account. Pald for watches purchased on July 17. Recelve cash of $9,000 for watches sold on account on August 22. Soldiged 89 watches for $13,600 (\$170 per watch) cash. Purche watches for $45,090 cash. Purchased 109 watehes for $18,096 (\$1s0 per watch) on account. Sold 40 wateches for $20,060 on account. Late in December, the next generation of muluase (MU in watches is released In acidition to all of the features of the MU watch, the MU Il watches are equipped with a global positioning systen (GPS) and have the ablity to download and play songs and videos off the Intemet The demand for the ori wratches is onlo sion per watch 1. Record each of the transactions listed above in the 'General Journal' tab (these are shown as items 1 to 14 ). Review the 'General Ledger' and the 'Trial Balance' tabs to see the effect of the transactions on the account balances. 2. Record adjusting entries on December 31, 2025, in the 'General Journal' tab. 3. Review the adjusted 'Trial Balance' as of December 31,2025. 4. Prepare an income statement for the period ended December 31, 2025, in the 'Income statement' tab. 5. Prepare a classified balance sheet as of December 31,2025 in the 'Balance Sheet' tab. Journal entry worksheet 234 5 6. 7 8 Purchased 50 watches for $7,500 ( $150 per watch) on account. Record the purchase of inventory on account. Note? Enter debits before credits