Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to purchase a used Suburban on July 1, 2025, for $14,600. They expect to use the Suburban for five years and then sell the vehicle for $5,800. The following expenditures related to the vehicle were also made on July 1, 2025: The company pays $2,450 to GEICO for a one-year insurance policy. The company spends an extra $5,600 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides. . An additional $2,650 is spent on a deluxe roof rack and a trailer hitch. The painting, roof rack, and hitch are all expected to increase the future benefits of the vehicle for Great Adventures. In addition, on October 22, 2025, the company pays $1,700 for basic vehicle maintenance related to changing the oil, replacing the windshield wipers, rotating the tires, and inserting a new air filter. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet 1. Record each of the transactions listed above in the 'General Journal' tab. Review the 'General Ledger' and the 'Trial Balance' tabs to see the effect of the transactions on the account balances. 2. Record the adjusting entries in the 'General Journal' tab. 3. Review the adjusted Trial balance as of December 31, 2025, in the 'Trial Balance' tab. 4. Prepare an income statement for the period ended December 31, 2025, in the 'Income Statement' tab. 5. Prepare a classified balance sheet as of December 31, 2025 in the 'Balance Sheet" tab. 6. Record the closing entries in the 'General Journal' tab. 59:14 ces Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 4 5 6 Record the expenditures related to the vehicle on July 1, 2025. Note: The capitalized cost of the vehicle is recorded in the Equipment account. Note: Enter debits before credits. Date July 01, 2025 General Journal Debit Credit Record entry Clear entry View general journal Prev 1 of 3 Next Unadjusted General Ledger Account Cash Accounts Receivable No. Date July 011 Debit Credit Balance No. Date Debit 83,660 July 01 Allowance for Uncollectible Accounts No. Date Debit July 01 Credit Credit Balance 63,000 Inventory Balance No. 3,700 Date July 01 Debit Credit Balance 8,300 Equipment No. Date Debit Credit Balance No. Date Accumulated Depreciation Debit July 01 90,890 July 01 Credit Balance 30,500 Accounts Payable No. Date Debit July 01 Credit Balance No. Date Interest Payable Debit Credit Balance 23,400 July 01 1,400 Income Tax Payable Long-term Notes Payable No. Date Debit Credit Balance No. July 01 15,800 Date July 01 Debit Credit Balance 56,000 Common Stock Retained Earnings No. Date July 01 Debit Credit Balance No. Date Debit Credit Balance 25,655 July 01 36,700 Service Revenue No. Date July 01 Debit Interest Revenue No. Date Debit July 01 Sales Revenue Credit Balance No. Date Debit Credit Balance 51,000 July 01 152,000 Credit Balance No. Date Sales Discounts Debit Credit Balance 185 480 Cost of Goods Sold Depreciation Expense No. Date Debit Credit Balance No. Date Debit Credit Balance 56,310 July 01 22,500 Supplies Expense No. Date Debit July 01 Credit Balance No. Date Salaries Expense Debit Credit Balance 1,800 July 01 37,000 Bad Debt Expense No. Date Debit Credit Balance No. Date Interest Expense Debit Credit Balance July 01 3,700 July 01 3,100 Rent Expense Income Tax Expense No. Date Debit Credit Balance No. Date Debit Credit Balance July 01 3,700 July 01 15,800 Insurance Expense No. Date Debit July 01 Credit Balance 6,100 Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Equipment Accumulated Depreciation Accounts Payable Interest Payable mal Dalan October 22, 2025 Account Title Debit Credit $ 83,660 63,000 3,700 8,300 90,890 30,500 23,400 1,400 15,800 56,000 25,655 36,700 51,000 152,000 185 444 Income Tax Payable 444 Long-term Notes Payable Common Stock Retained Earnings Service Revenue Sales Revenue Interest Revenue Sales Discounts Cost of Goods Sold Supplies Expense Salaries Expense Bad Debt Expense Interest Expense 480 56,310 Depreciation Expense 22,500 1,800 37,000 3,700 3,100 3,700 15,800 6,100 Rent Expense Income Tax Expense Insurance Expense Total 396,340 $ 396,340