This is a question about accounting, please help me complete the form below.
{The foowing information appiies to the questions displayed below] Tony and SuZIe are ready to expand Great Adventures even further In 2019. Tony believes that many groups in the community [for example, Boy Scouts. church groups. civic groups, and local busmesses] would like to hold oneday outings for their members. Groups would engage in outdoor activities such as rock climbing. shing, capture the flag, paintball,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 learn the importance of TEAM (Together Everyone Achieves More). Tony knows that most people are not familiar With these types of activities, so to encourage business he allows groups to participate in the event before paying, He offers a 4% quick-payment discount to those that pay within 10 days afterthe event. He also guarantees that at least eight hours of outdoor activmes will be provided orthe customer Will receive a 20% discount For the rst six months ofthe year. the following activities occur for TEAM operations. Jan. 24 Great Adventures purchases outdoor gear such as ropes, helmets, harnesses, compasses, and o'd'ier miscellaneous equipment for $4,700 cash Feb, 25 Mr Kendall's Eloy Scout troop participates in a one-day TEAM adventure, Normally. Tony would charge a group of this size $3.200, but he wants to encourage kids to exercise more and enjoy the outdoors so he charges the group only $2300. Great Adventures provides these services on account. Feb. 28 The Boy Scout troop pays the full amount owed. less the 4% quick-payment discount. Mar. 19 Reynold's Management has its employees participate in a one-day TEAM adventure. Great Adventures provides senrices on account For $3,700, and Reynolds agrees to pay wi'd'iin 30 days Mar, 27 Reynold's pays the full amount owed. less the 4% quick-payment discount Apr 7' Several men from the Elks Lodge decide to pamCipate in a TEAM adventure. They pay $7.200, and the event is scheduled for the followmg week. Apr M The TEAM adventure is held for members of the Elks Lodge. May 9 Myers Manufacturing participates in a TEAM adventure. Great Adventures provides services on account for $5.700, and Myers agrees to pay within 30 days. Jun. 130 Several MBA groups participate 'in TEAM adventures during June. Great Adventures provides services on accountfor $22,500 to these groups, With payment due in July. Jun. 30 Myers Manufacturing fails to pay the amount owed within the specied period and agrees to sign a three-mon'i, 7% note receivable to replace the existing account receivable. Required: 1. Record TEAM adventure transactions occumng during the rst six months of 2019 (If no entry is required for a transactionlevent, select "Na journal entry required" in the first account field.) Journal entry worksheet ( 1 2 3 4 5 5 7 s 9 10 > Record the purchase of outdoor gear for cash. Note: Enter debits before credits. Jan. 24' 2019 Record entry Clear entry View general journal 2. As of June 30' 2019, Great Adventures nishes its rst 12 months ofoperations. If Suzie wants to prepare nancial statements, part of the process would involve allowing for uncollectible accounts receivable. a. Suppose Suzie estimates uncojlectible accounts to be 8% of accounts receivable (which does not include the $5,700 note receivable frprn Myers Manufacturing). Record the adjustment for uncollectible accounts on June 3!], 2019. {If no entry is required fora transactioni'event, select "No journal entry required" in the rst account eld.) View transaction \"51 Journal entry worksheet Record the adjustment for uncollectihle accounts. Note: Enter debits before credits. Jun 301019 Record entry Clearentry View general journal b. Prepare a partial balance sheet showing the net accounts receivable section. (Amounts to be ded untied should be indicated by a minus sign.) Assets Current assets: Net accounts receivable