RWP7-1 (Algo) Great Adventures Continuing Case (GL) Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to purchase a used Suburban on July 1, 2025, for $13,400. They expect to use the Suburban for five years and then sell the vehicle for $5,200. The following expenditures related to the vehicle were also made on July 1, 2025: .The company pays $2,150 to GEICO for a one-year insurance policy. The company spends an extra $4,400 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides. An additional $2,350 is spent on a deluxe roof rack and a trailer hitch. The painting, roof rack, and hitch are all expected to increase the future benefits of the vehicle for Great Adventures. In addition, on October 22, 2025, the company pays $1,100 for basic vehicle maintenance related to changing the oil, replacing the windshield wipers, rotating the tires, and inserting a new air filter. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Choose the appropriate accounts to be reported on the income statement. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. View journal entry worksheet No Date 1 July 01, 2025 Equipment General Journal Debit Credit 20,150 2 October 22, 2025 Prepaid Insurance 2,150 3 December 31, 2025 Cash 22,300 4 December 31, 2025 Insurance Expense 1,075 Prepaid Insurance 1,075 December 31, 5 No Transaction Recorded 2025 6 December 31, 2025 Depreciation Expense Accumulated Depreciation Insurance Expense Prepaid Insurance 1,495 1,495 1,075 1.075 < Requirement General Ledger > Credit Balance 57,000 Cash Accounts Receivable No. Date July 01 December 31, 3 22,300 2025 Debit Credit Balance No. Date Debit 83,480 July 01 105,780 Allowance for Uncollectible Accounts No. Date Debit July 01 Credit Inventory Balance No. 3,100 Date July 01 Debit Credit Balance 7,700 Prepaid Insurance Equipment No. Date Debit Credit Balance No. July 01 0 Date July 011 Debit Credit Balance 69,710 October 22, 2 2,150 2025 2.150 1 July 01, 2025 20.150 89,860 December 31, 4 2025 1,075 1,075 23 Accumulated Depreciation Accounts Payable Credit Balance 22,200 Credit Balance 27.500 No. Date: Debit July 01 Income Tax Payable No. Date Debit July 01 Interest Payable Interest Payable No. Date July 01 Debit Income Tax Payable Credit Balance No. Date Debit 1,100 July 01 Credit Balance 15,200 Long-term Notes Payable No. Date July 01 Debit Credit Balance No. 44,000 Date July 01 Common Stock Debit Credit Balance 23,045 Retained Earnings Service Revenue No. Date July 01 Debit Credit Balance No. 35,200 Date: July 01 Debit Credit Balance 48,000 Sales Revenue Interest Revenue No. Date Debit Credit Balance No. Date Debit Credit Balance P July 01 128,000 July 01 155 Sales Discounts No. Date Debit Credit Balance No. Date Cost of Goods Sold Debit Credit Balance 420 48,090 Depreciation Expense No. Date Debit Supplies Expense Credit Balance No. Date Debit Credit Balance Depreciation Expense No. Date July 01 Debit Salaries Expense Supplies Expense Credit Balance No. Date Debit 19,500 July 01 Credit Balance 1,20 Bad Debt Expense No. Date Debit Credit Balance No. Date Debit July 01 31,000 July 01 Credit Balance 3,10 Interest Expense Rent Expense No. Date Debit Credit Balance No. Date Debit Credit July 01 2,500 July 01 Balance 3,1 Income Tax Expense Insurance Expense No. Date July 01 Debit Credit Balance No. Date Debit Credit Balance 15,200 July 01 5,5 4 4 December 31, 2025 1,075 6,5 Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Interest Payable Income Tax Payable Long-term Notes Payable Common Stock Retained Earnings Service Revenue Sales Revenue Interest Revenue Sales Discounts Cost of Goods Sold Depreciation Expense Sunplies Fynense Account Title Debit Credit $ 105,780 57,000 3,100 7,700 1,075 89,860 27,500 22.200 1,100 15,200 44,000 23,045 35,200 48,000 128,000 155 420 48.090 19,500 1 200 44 4444444446 Sales Revenue Interest Revenue Sales Discounts Cost of Goods Sold Depreciation Expense Supplies Expense Salaries Expense Bad Debt Expense Interest Expense Rent Expense Income Tax Expense Insurance Expense Total General Ledger Income Statement > 420 128,000 15 48,090 19,500 1,200 31,000 3,100 2,500 3,100 15,200 6,575 392,100 $ 347,5 Revenues: GREAT ADVENTURES, INCORPORATED Income Statement For the Period Ended December 31, 2025 Net Sales Gross Profit Operating Expenses: $ 0 0 0 0 0 EA $ 0 Assets Current Assets: Total Current Assets Long-term Assets. GREAT ADVENTURES, INCORPORATED Balance Sheet December 31, 2025 Current Liabilities: Total Current Liabilities Long-term Liabilities: Liabilities 0 Total Liabilities Stockholders' Equity 0