The following transactions occur over the remainder of $2024.$

August $1$ Great Adventures obtains a $$30,000$ low$-$interest loan for the company from the city council, which has August $4$ due in three years, and $6\%$ annual interest is due each year on July $31.$

August $10$ Tone company purchases $14$ kayaks, paying $$28,000$ cash.

tony and Suzie conduct the first kayak clinic. In addition to the $$4,000$ that was received in advance from kayakers on July $30,$ the company receives additional cash of $$3,000$ from $20$ new kayakers on the day of the clinic.

August $17$ Tony and Suzie conduct a second kayak clinic, and the company receives $$10,500$ cash.

September $1$ Office supplies of $$1,800$ purchased on July $4$ are paid in full.

To provide better storage of mountain bikes and kayaks when not in use, the company rents a storage shed for one year, paying $$2,400($ $$200$ per month$)$ in advance.

october $17$ Tony and Suzie conduct an orienteering clinic. Participants practice how to understand a topographical map, read an altimeter, use a compass, and orient through heavily wooded areas. The company receives

December $1$ $$17,900$ cash.

Tany and Suzie decide to hold the company's first adventure race on December $15.$ Four$-$person teams will rece from checkpoint to checkpoint using a combination of mountain biking, kayaking, orienteering, trail running, and rock$-$climbing skills. The first team in each category to complete all checkpoints in order wins. The entry fee for each team is $$500.$

December $5$ To help organize and promote the race, Tony hires his college roommate, Victor. Victor will be paid $$50$ in salary for each team that competes in the race. His salary will be paid after the race.

December $8$ The company pays $$1,200$ to purchase a permit from a state park where the race will be held. The amount is recorded as a miscellaneous expense.

December $12$ The company purchases racing supplies for $$2,800$ on account due in $30$ days. Supplies include trophies for the top$-$finishing teams in each category, promotional shirts, snack foods and drinks for participants, and field markers to prepare the racecourse.

December $15$ The company receives $$20,000$ cash from a total of forty teams, and the race is held.

December $16$ The company pays Victor's salary of $$2,000.$

December $31$ The company pays a dividend of $$4,000($ $$2,000$ to Tony and $$2,000$ to Suzie$).$

December $31$ Using his personal money, Tony purchases a diamond ring for $$4,500.$ Tony surprises Suzie by proposing that they get married. Suzie accepts and they get married!

The following information relates to year$-$end adjusting entries as of December $31,2024.$

a$.$ Depreciation of the mountain bikes purchased on July $8$ and kayaks purchased on August $4$ totals $$8,000.$

b$.$ Six months' of the one$-$year insurance policy purchased on July $1$ has expired.

c$.$ Four months of the one$-$year rental agreement purchased on September $1$ has expired.

d$.$ Of the $$1,800$ of office supplies purchased on July $4,$$$300$ remains.

e$.$ Interest expense on the $$30,000$ loan obtained from the city council on August $1$ should be recorded.

$f.$ Of the $$2,800$ of racing supplies purchased on December $12,$$$200$ remains.

g$.$ Suzie calculates that the company owes $$14,000$ in income taxes.

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