Tony and Suzie graduate from college in May 2024 and begin developing their new business. They begin by offering cinics for basic outdoor activities such as mountain biking or kayaking. Upon developing a customer base, they'll hold their first adventure races. These races will involve four-person teams that race from one checkpoint to the next using a combination of kayaking, mountain biking, orienteering, and trail running. In the long run, they plan to sell outdoor gear and develop a ropes course for outdoor enthusiasts. On July 1, 2024, Tony and Suzie organize their new company as a corporation, Great Adventures Incorporated. The articies of incorporation state that the corporation will sell 34,000 shares of common stock for $1 each. Each share of stock represents a unit of ownership. Tony and Suzie will act as co-presidents of the company. The following business activities occur during July for Great Adventures. July 1 Sell $17,000 of common stock to Suzie. July 1 Sell \$17,000 of common stock to Tony. July 1 Purchase a one-year insurance policy for $3,960 ( $330 per month) to cover injuries to participants during outdoor elinics. July 2 Pay legal fees of $1,300 associated with incorporation Jaly 4 Purchase office supplies of $1,900 on account. July 7 Pay $390 to a local newspaper for advertising to appear immediately for an upcoming mountain biking elinic to be held on July 15 . Attendees will be charged $70 the day of the clinic. July 8 Purchase 10 mountain bikes, paying $11,700 cash July 15 On the day of the clinic, Great Adventures receives cash of $4,200 from 60 bikers Tony conducts the mountain biking clinic July 22 Because of the sucecis of the first mountain biking clinic, Tony holds another mountain biking clinic and the company receives 54,750 July 24 Pay $860 to a local radio station for advertising to appear immediately A kayaking clinic will be held on August 10, and attendees can pay $110 in advance or $160 on the day of the clinic. July 30 Great Adventures receives cash of $6,600 in advance from 60 kayakers for the upcoming kayak elinic. Complete this question by entering your answers in the tabs below. Post each transaction to the appropriate T-accounts and calculate the ending balance of each account