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 $13,200. They expect to use the Suburban for five years and then sell the vehicle for $5,100. The following expenditures related to the vehicle were also made on July 1, 2025: The company pays $2,100 to GEICO for a one-year insurance policy. The company spends an extra $4,200 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides. An additional $2,300 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 $1,000 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 Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 4 5 6 Record the depreciation for vehicle purchased. Use straight-line depreciation. points ellock Print View transaction list Journal entry worksheet References < 1 2 3 4 5 6 Mc Graw Record the expiration of prepaid insurance. Note: Enter debits before credits Date December 31, 2025 General Journal Debit Credit View general journal Record entry Clear entry points ellook Print View transaction list Journal entry worksheet References < 1 2 3 4 6 Mc Graw Record the closing entry for revenue accounts. Note: Enter debits before credits Date December 31, 2025 General Journal Debit Credit M EX Dow int Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet ences < 1 2 3 4 5 6 Record the closing entry for expense accounts. Note: Enter debits before credits Date December 31, 2025 General Journal Debit Credit Prev 1 of 3 Next >