Tony and Suzie are ready to expand Great Adventures even further in 2022. Tony believes that many groups in the community (for example, Boy Scouts, church groups, civic groups, and local businesses) would like to hold one-day outings for their members. Groups would engage in outdoor activities such as rock climbing, fishing, 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 5% quick-payment discount to those that pay within 10 days after the event. He also guarantees that at least eight hours of outdoor activities will be provided or the customer will receive a 20% discount. For the first six months of the year, the following activities occur for TEAM operations. Jan. 24 Great Adventures purchases outdoor gear such a ropes, heats, harnesses, compasses, and other cellaneous equipment for $5.000 cash Feb. 25 Nr. Kendil' Boy Scout troop participates in one day TEAM adventure. Normally, Tony would change a troup of this size $3.500, but he wants to encourage kids to exercite more and enjoy the outdoors the chance the group only $3.000. Great Adventures provides these service on count Feb. 28 The Boy Scout Troop pay the full mount owed let the quick- p ent discount. Mar. 19 Reynold' Hansent has its employees participate in a one-day TEAR adventure. Great Adventures provides services on scount for $4.000.and Reynold to pay within 30 days. Mar 27 Remot e the full mount ved let the 5th annt discount. pr. 7 Several montron the Elk Lodge decide to participate in TEARdventure. They pay 17.500, and the event is scheduled for the following week. Apr 14 The TRAM adventure hold for senbers of the Elka Lodge Apr. 10 yer antsturint participates in TL venture Great Adventures provides services on sccount for $6.000 d e Brestopy within Hay yes nuacturing fails to pay the mount owed within the specified period and screes to win a three month note receivable to replace the existing account receivable, Tun Saver MHA roupas participate in TEAM adventures. Great Adventures provides services on sccount for $20.000 to the roups, with purent die in July Suzie estimates uncollectible accounts to be 10% of accounts receivable (which does not include the $6.000 note receivable from Myers Manufacturingl. Prepare the adjusting entry for uncollectible accounts Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Tony and Suzie are ready to expand Great Adventures even further in 2022. Tony believes that many groups in the community (for example, Boy Scouts, church groups, civic groups, and local businesses) would like to hold one-day outings for their members. Groups would engage in outdoor activities such as rock climbing, fishing, 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 5% quick-payment discount to those that pay within 10 days after the event. He also guarantees that at least eight hours of outdoor activities will be provided or the customer will receive a 20% discount. For the first six months of the year, the following activities occur for TEAM operations. Jan. 24 Great Adventures purchases outdoor gear such a ropes, heats, harnesses, compasses, and other cellaneous equipment for $5.000 cash Feb. 25 Nr. Kendil' Boy Scout troop participates in one day TEAM adventure. Normally, Tony would change a troup of this size $3.500, but he wants to encourage kids to exercite more and enjoy the outdoors the chance the group only $3.000. Great Adventures provides these service on count Feb. 28 The Boy Scout Troop pay the full mount owed let the quick- p ent discount. Mar. 19 Reynold' Hansent has its employees participate in a one-day TEAR adventure. Great Adventures provides services on scount for $4.000.and Reynold to pay within 30 days. Mar 27 Remot e the full mount ved let the 5th annt discount. pr. 7 Several montron the Elk Lodge decide to participate in TEARdventure. They pay 17.500, and the event is scheduled for the following week. Apr 14 The TRAM adventure hold for senbers of the Elka Lodge Apr. 10 yer antsturint participates in TL venture Great Adventures provides services on sccount for $6.000 d e Brestopy within Hay yes nuacturing fails to pay the mount owed within the specified period and screes to win a three month note receivable to replace the existing account receivable, Tun Saver MHA roupas participate in TEAM adventures. Great Adventures provides services on sccount for $20.000 to the roups, with purent die in July Suzie estimates uncollectible accounts to be 10% of accounts receivable (which does not include the $6.000 note receivable from Myers Manufacturingl. Prepare the adjusting entry for uncollectible accounts Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet
