Tony and Suzie have purchased land for a new camp. Now they need money to build the cabins, dining facility, a ropes course, and an outdoor swimming pool. Tony and Suzie first checked with Summit Bank to see if they could borrow an additional \$1 million, but unfortunately the bank turned them down as too risky. Undeterred, they promoted their idea to close friends they had made through the outdoor clinics and TEAM events. They decided to go ahead and sell shares of stock in the company to raise the adcitional funds for the camp. Great Adventures has authorized $1 par value common stock. When the company began on July 1, 2024, Tony and Suzie each purchased 10,000 shares (20,000 shares total) of $1 par value common stock at $1 per share. The following transactions affect stockholders' equity during the remainder of 2025 : Novesber' 5 Issue an additional 100,000 shares of connon stock for $10 per share. Novesber 16 Purchase 10 , eee shares of its own connon stock (1.e., treasury stock) for $15 per share. November 24 Resell 4 , 00 shares of treasury stock at $16 per share. Decenber 1 Declare a cash dividend on its common stock of $11,490 ( $9.10 per share) to all stockholders of record on Decenber 15 . December 20 Pay the cash dividend declared on December 1. Decenber 30 Pay $see,0se for construction of new cabins and other facilities. The entire expenditure is recorded in the Buildings account. GREAT ADVENTURES, INCORPORATED Trial Balance December 34, 2025 \begin{tabular}{|l|r|r|} \hline Retained Earnings & & \\ \hline Dividends & 11,400 & 33,450 \\ \hline Service Revenue & & 44,500 \\ \hline Sales Revenue & 350 & \\ \hline Sales Discounts & & 120,000 \\ \hline Cost of Goods Sold & 38,500 & \\ \hline Depreciation Expense & 17,250 & \\ \hline Supplies Expense & 500 & 120 \\ \hline Salaries Expense & 24,000 & \\ \hline Bad Debt Expense & 2,400 & \\ \hline Interest Expense & 6,785 & \\ \hline Rent Expense & 2,400 & \\ \hline Income Tax Expense & 14,500 & \\ \hline Reparance Expense & 5,700 & \\ \hline Warranty Expense & 400 & \\ \hline Toss & 4,000 & \\ \hline Total & 12,000 & \\ \hline \end{tabular} General Ledger Income statement Record the entry to close the revenue accounts. Note: Enter debits before credits. Journal entry worksheet Record the entry to close the expense accounts. Note: Enter debits before credits. Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event In the first account field.) Journal entry workheet (1) 2 3 4 5 6 7 8 9 Record the entry to close the dividends account. Note: Enter debits before credits. Tony and Suzie have purchased land for a new camp. Now they need money to build the cabins, dining facility, a ropes course, and an outdoor swimming pool. Tony and Suzie first checked with Summit Bank to see if they could borrow an additional \$1 million, but unfortunately the bank turned them down as too risky. Undeterred, they promoted their idea to close friends they had made through the outdoor clinics and TEAM events. They decided to go ahead and sell shares of stock in the company to raise the adcitional funds for the camp. Great Adventures has authorized $1 par value common stock. When the company began on July 1, 2024, Tony and Suzie each purchased 10,000 shares (20,000 shares total) of $1 par value common stock at $1 per share. The following transactions affect stockholders' equity during the remainder of 2025 : Novesber' 5 Issue an additional 100,000 shares of connon stock for $10 per share. Novesber 16 Purchase 10 , eee shares of its own connon stock (1.e., treasury stock) for $15 per share. November 24 Resell 4 , 00 shares of treasury stock at $16 per share. Decenber 1 Declare a cash dividend on its common stock of $11,490 ( $9.10 per share) to all stockholders of record on Decenber 15 . December 20 Pay the cash dividend declared on December 1. Decenber 30 Pay $see,0se for construction of new cabins and other facilities. The entire expenditure is recorded in the Buildings account. GREAT ADVENTURES, INCORPORATED Trial Balance December 34, 2025 \begin{tabular}{|l|r|r|} \hline Retained Earnings & & \\ \hline Dividends & 11,400 & 33,450 \\ \hline Service Revenue & & 44,500 \\ \hline Sales Revenue & 350 & \\ \hline Sales Discounts & & 120,000 \\ \hline Cost of Goods Sold & 38,500 & \\ \hline Depreciation Expense & 17,250 & \\ \hline Supplies Expense & 500 & 120 \\ \hline Salaries Expense & 24,000 & \\ \hline Bad Debt Expense & 2,400 & \\ \hline Interest Expense & 6,785 & \\ \hline Rent Expense & 2,400 & \\ \hline Income Tax Expense & 14,500 & \\ \hline Reparance Expense & 5,700 & \\ \hline Warranty Expense & 400 & \\ \hline Toss & 4,000 & \\ \hline Total & 12,000 & \\ \hline \end{tabular} General Ledger Income statement Record the entry to close the revenue accounts. Note: Enter debits before credits. Journal entry worksheet Record the entry to close the expense accounts. Note: Enter debits before credits. Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event In the first account field.) Journal entry workheet (1) 2 3 4 5 6 7 8 9 Record the entry to close the dividends account. Note: Enter debits before credits