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 $12,800. They expect to use the Suburban for five years and then sell the vehicle for $4,900. The following expenditures related to the vehicle were also made on July 1, 2025: - The company pays $2,000 to GEICO for a one-year insurance policy. - The compony spends an extra $3,800 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides. - An additional $2,200 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 $800 for basic vehicle maintenance related to changing the oil, replacing the windshield wipers; rotating the tires, and inserting a new air filter. 1 Record the expenditures related to the vehicle on July 1 , 2025. Note: The capitalized cost of the vehicle is recorded in the Equipment account. 2 Record the expenditure related to vehicle maintenance on October 22, 2025. 3 Record the depreciation for vehicle purchased. Use straight-line depreciation. 4 Record the expiration of prepaid insurance. 5 Record the closing entry for revenue accounts. 6 Record the closing entry for expense accounts. Additional interest for five months needs to be accrued on the $31,800,6% note payable obtained on August 1,2024 . Recall that annual interest is paid each July 31 . Record the adjusting entry. Assume that $11,800 of the $31,800 note discussed above is due next year. Record the entry to reclassify the current portion of the long-term note. By the end of the year, $20,000 in gift cards have been redeemed. The company had sold gift cards of $26,800 during the year and recorded those as Deferred Revenue. Record the adjusting entry. Great Adventures is a defendant in litigation involving a biking accident during one of its adventure races. The company believes the likelihood of payment occurring is probable, and the estimated amount to be paid is $13,800. Record the adjusting entry. For sales of MU watches, Great Adventures offers a warranty against defect for one year. At the end of the year, the company estimates future warranty costs to be $5,800. Record the adjusting entry. Record the closing entry for revenue accounts. Record the closing entry for expense and loss accounts