Tony and Suzio 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 as ropes, helmets, harnesses, compasses, and other miscellaneous equipment for $5,000 cash. Feb. 25 Mr. Kendall's Boy Scout troop participates in a one-day TEAM adventure. Normally, Tony would charge a group of this size $3,500, but he wants to encourage kids to exercise more and enjoy the outdoors so he charges the group only $3,000. Great Adventures provides these services on account. Feb. 28 The Boy Scout troop pays the full anount owed, less the 50 quick-payment discount. Mar. 19 Reynold's Management has its employees participate in a one-day TEAM adventure. Great Adventures providen services on account for $4,000, and Reynold's agrees to pay within 30 days. Mar. 27 Reynold's pays the full amount owed, less the 5t quick-payment discount. Apr. 7 Several nen from the Elks Lodge decide to participate in a TEAM adventure. They pay $7,500, and the event la scheduled for the following week. Apr. 14 The TEAM adventure is hold for members of the Elks Lodge. Apr. 30 Myers Manufacturing participates in a TEAM adventure. Great Adventures provides services on account for $6,000, and Myers agrees to pay within 30 days. May 31 Myers Manufacturing fails to pay the amount oved within the specified period and agrees to sign a three-month 8 note receivable to replace the existing account receivable. Jun. 15 several MBA groupe participate in TEAM adventures. Great Adventures provides services on account for $24,000 to these groups, with payment due in July Suzle estimates uncollectible accounts to be 10% of accounts receivable (which does not include the $6,000 note receivable from Myers Manufacturing). Prepare the adjusting entry for uncollectible accounts 2 Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet 9.28 Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account hield.) View transaction let View journal entry worksheet book No Date Account Titi Debit Credit 1 Jan 24 5,000 Equipment Cash Print 5,000 2 Feb 25 References Accounts Receivable Service Revenue 3,000 3,000 3 Feb 28 Cash Sales Discounts Accounts Receivable 2,850 150 3,000 Mar 19 4,000 Accounts Receivable Service Revenue 4,000 5 Mar 27 Cash Sales Discounts Accounts Receivable 3,800 200 4,000 6 Apr 07 7,500 Cash Deferred Revenue 7,500 7 Apr 14 7,500 Deferred Revenue Service Revenue 7,500 8 Apr 30 6,000 Accounts Receivable Service Revenue 6,000 2 7 Apr 14 7,500 Deferred Ravenue Service Revenue 7.500 8 Apr 30 6,000 Accounts Receivable Service Revenue 6,000 9 May 31 6,000 Notes Receivable Accounts Receivable 6,000 ok 10 Jun 15 24,000 Accounts Receivable Service Revenue int 24.000 11 Jun 30 2.400 Bad Debt Expense Allowance for Uncollectible Accounts ences 2,400 12 Jun 30 40 Interest Receivable Interest Revenue 40 13 Jun 30 44,500 40 Service Revenue Interest Revenue Sales Discounts Retained Earnings 270 92,230 14 Jun 30 58,360 Retained Earnings Depreciation Expense Supplies Expense Salaries Expense Bad Debt Expense Interest Expense Rent Expenso Insurance Expense 11,600 2,300 30,000 2,400 1,260 4,800 6,000 GA2 Seved 2 ney 31 RUEN LULUL ANY LLU pay cures US WALL PLU PLUG 10 age 81 note receivable to replace the existing account receivable. Jun. 15 Several MBA groups participate in TEAM adventures. Great Adventures provides services these groups, with payment due in July. Suzie estimates uncollectible accounts to be 10% of accounts receivable (which does not include the $6. Myers Manufacturing). Prepare the adjusting entry for uncollectible accounts. 4.28 points Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet eBook Print Choose the appropriate accounts to complete the company's income statement. Select 'adjusted from the de will then populate the balances in those accounts from the adjusted trial balance. Post-closing Dates: Jan 24 to: GREAT ADVENTURES, INC. Income Statement For the Period Ended June 30, 2022 Revenue: $ 0 References 0 OO $ 0 Total Revenue Expense: 0 0 0 0 0 0 0 Total Expense 0 0 $ (Trial Balance Balance Sheet > Saved 2 nay YUL ULUCAE119 Lo pay UNC Uweu WE CELLULEG perlu anayewah 84 note receivable to replace the existing account receivable. Jun. 15 Several MBA groups participate in TEAM adventures. Great Adventures provides services on account for s these groups, with payment due in July Suzie estimates uncollectible accounts to be 10% of accounts receivable (which does not include the $6,000 note receivab Myers Manufacturing). Prepare the adjusting entry for uncollectible accounts. Book General General Income Requirement Trial Balance Balance Sheet Journal Ledger Statement Choose the appropriate accounts to complete the company's balance sheet. Make sure to select 'adjusted from the dropdown, will then populate the balances in those accounts from the adjusted trial balance. Post-closing Dates: Jan 24 to: Jun 30 GREAT ADVENTURES, INC. Balance Sheet June 30, 2022 Assets Liabilities Current Assots: Current Liabilities: $ 0 0 0 rences $ OO 0 0 Total Current Liabilities 0 0 0 lo 0 0 0 Total Current Assets Long-term Assets: 0 0 Total Liabilities Stockholders' Equity 0 0 0 0 0 0 0 0 Total Stockholders' Equity Total Liabilities and Stockholders' Equity $ Total Assets $ 0 2 Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet 28 Each Journal entry is posted automatically to the general ledger. Post-closing Dates: Jan 24 to: Jun 30 General Lodger Account eBook Accounts Receivable Cash Debit No. Date Credit No. Date Debit Credit Print Balance 0 3,000 1 5,000 2 3,000 Balance 38,500 33,500 36,350 40,150 47,650 3 3,000 0 Jan 24 Feb 28 Mar 27 Apr 07 References 2,850 3,800 7,500 3 4 4,000 5 6 4,000 DO 2 D. Feb 25 Feb 28 Mar 19 Mar 27 Apr 30 May 31 Jun 15 4.000 0 5 8 9 10 6,000 6.000 6,000 0 24,000 24,000 Notes Receivable Allowance for Uncollectible Accounts Date Debit Credit No. No Date Debit Credit Balance 0 2,400 Balance 0 6,000 11 Jun 30 2,400 9 May 31 6,000 Interest Receivable Prepaid Rent Debit No. Date Debit Credit No. Date Credit Balance 0 40 Balance 400 12 Jun 30 40 Equipment Accumulated Depreciation No Date Debit Credit No. Date Debit Credit Balance 40,000 45,000 Balance 16.000 11 Jan 24 5,000 Accounts Payable Interest Payable Debit Credit No. Date Debit Credit No Date Balance 2,800 Balance 1,650 2 Deferred Revenue No. Date Debit Notes Payable Debit Credit Credit No. Date Balance 0 7,500 0 Balance 30,000 14.28 points 7,500 6 7 Apr 07 Apr 14 7,500 Retained Earnings Common Stock Debit Credit eBook No. Date No. Date Debit Credit Balance 20.000 13 14 Print Balance 33,450 125,680 67,320 Jun 30 Jun 30 92 230 58,360 Service Revenue References Interest Revenue No. Date Debit Credit Balance No. Date Debit Credit Balance 0 0 2 40 4 12 13 Jun 30 Jun 30 40 0 40 7 Feb 25 Mar 19 Apr 14 Apr 30 Jun 15 Jun 30 3,000 4,000 7.500 6,000 24,000 8 10 13 3,000 7,000 14,500 20,500 44,500 0 44,500 Sales Discounts Debit Credit No. Date Depreciation Expense Debit Credit No. Date Balance 8,000 (3.600) 14 D 21 Balance 0 150 350 80 Jun 30 3 5 13 150 200 Feb 28 Mar 27 Jun 30 11.600 270 Salaries Expense Supplies Expense Debit Credit No. Date No. Date Debit Credit Balance 500 (1,800) Balance 12,000 (18,000) 14 Jun 30 2,300 14 Jun 30 30,000 Bad Debt Expense No. Date Debit Interest Expense Debit Credit Credit Balance No. Date Balance 900 0 . 2 14 Jun 30 58,360 67,320 Service Ravenue Interest Revenue 28 No. Date Debit Credit Balance No. Date Debit Credit Balance 0 0 12 40 2 4 Feb 25 Mar 19 Jun 30 Jun 30 40 0 13 40 Apr 14 Apr 30 eBook 3,000 4,000 7.500 6,000 24,000 7 8 10 13 3,000 7,000 14,500 20,500 44,500 0 Jun 15 Jun 30 Print 44,500 Sales Discounts ferences No. Depreciation Expense Debit Credit Date Debit Credit No. Date Balance 0 150 Balance 8,000 (3.600) 3 14 Jun 30 150 200 11.600 Feb 28 Mar 27 Jun 30 5 13 350 80 270 Salaries Expense Supplies Expense Debit Credit No. Date No. Dato Debit Credit Balance 500 (1,800) Balance 12,000 (18,000) 14 Jun 30 2,300 14 Jun 30 30,000 Bad Debt Expense No. Date Interest Expense Debit Credit Debit Credit No. Date Balance 900 Jun 30 Balance 0 2,400 0 11 14 2,400 14 Jun 30 1,260 (360) Jun 30 2,400 Rent Expense Insurance Expense No. Date Debit Credit No. Date Debit Cradle Credit Balance 1,200 (3,600) 14 Jun 30 Balance 2,400 (3.600) 4,800 14 Jun 30 6,000 Tony and Suzio 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 as ropes, helmets, harnesses, compasses, and other miscellaneous equipment for $5,000 cash. Feb. 25 Mr. Kendall's Boy Scout troop participates in a one-day TEAM adventure. Normally, Tony would charge a group of this size $3,500, but he wants to encourage kids to exercise more and enjoy the outdoors so he charges the group only $3,000. Great Adventures provides these services on account. Feb. 28 The Boy Scout troop pays the full anount owed, less the 50 quick-payment discount. Mar. 19 Reynold's Management has its employees participate in a one-day TEAM adventure. Great Adventures providen services on account for $4,000, and Reynold's agrees to pay within 30 days. Mar. 27 Reynold's pays the full amount owed, less the 5t quick-payment discount. Apr. 7 Several nen from the Elks Lodge decide to participate in a TEAM adventure. They pay $7,500, and the event la scheduled for the following week. Apr. 14 The TEAM adventure is hold for members of the Elks Lodge. Apr. 30 Myers Manufacturing participates in a TEAM adventure. Great Adventures provides services on account for $6,000, and Myers agrees to pay within 30 days. May 31 Myers Manufacturing fails to pay the amount oved within the specified period and agrees to sign a three-month 8 note receivable to replace the existing account receivable. Jun. 15 several MBA groupe participate in TEAM adventures. Great Adventures provides services on account for $24,000 to these groups, with payment due in July Suzle estimates uncollectible accounts to be 10% of accounts receivable (which does not include the $6,000 note receivable from Myers Manufacturing). Prepare the adjusting entry for uncollectible accounts 2 Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet 9.28 Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account hield.) View transaction let View journal entry worksheet book No Date Account Titi Debit Credit 1 Jan 24 5,000 Equipment Cash Print 5,000 2 Feb 25 References Accounts Receivable Service Revenue 3,000 3,000 3 Feb 28 Cash Sales Discounts Accounts Receivable 2,850 150 3,000 Mar 19 4,000 Accounts Receivable Service Revenue 4,000 5 Mar 27 Cash Sales Discounts Accounts Receivable 3,800 200 4,000 6 Apr 07 7,500 Cash Deferred Revenue 7,500 7 Apr 14 7,500 Deferred Revenue Service Revenue 7,500 8 Apr 30 6,000 Accounts Receivable Service Revenue 6,000 2 7 Apr 14 7,500 Deferred Ravenue Service Revenue 7.500 8 Apr 30 6,000 Accounts Receivable Service Revenue 6,000 9 May 31 6,000 Notes Receivable Accounts Receivable 6,000 ok 10 Jun 15 24,000 Accounts Receivable Service Revenue int 24.000 11 Jun 30 2.400 Bad Debt Expense Allowance for Uncollectible Accounts ences 2,400 12 Jun 30 40 Interest Receivable Interest Revenue 40 13 Jun 30 44,500 40 Service Revenue Interest Revenue Sales Discounts Retained Earnings 270 92,230 14 Jun 30 58,360 Retained Earnings Depreciation Expense Supplies Expense Salaries Expense Bad Debt Expense Interest Expense Rent Expenso Insurance Expense 11,600 2,300 30,000 2,400 1,260 4,800 6,000 GA2 Seved 2 ney 31 RUEN LULUL ANY LLU pay cures US WALL PLU PLUG 10 age 81 note receivable to replace the existing account receivable. Jun. 15 Several MBA groups participate in TEAM adventures. Great Adventures provides services these groups, with payment due in July. Suzie estimates uncollectible accounts to be 10% of accounts receivable (which does not include the $6. Myers Manufacturing). Prepare the adjusting entry for uncollectible accounts. 4.28 points Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet eBook Print Choose the appropriate accounts to complete the company's income statement. Select 'adjusted from the de will then populate the balances in those accounts from the adjusted trial balance. Post-closing Dates: Jan 24 to: GREAT ADVENTURES, INC. Income Statement For the Period Ended June 30, 2022 Revenue: $ 0 References 0 OO $ 0 Total Revenue Expense: 0 0 0 0 0 0 0 Total Expense 0 0 $ (Trial Balance Balance Sheet > Saved 2 nay YUL ULUCAE119 Lo pay UNC Uweu WE CELLULEG perlu anayewah 84 note receivable to replace the existing account receivable. Jun. 15 Several MBA groups participate in TEAM adventures. Great Adventures provides services on account for s these groups, with payment due in July Suzie estimates uncollectible accounts to be 10% of accounts receivable (which does not include the $6,000 note receivab Myers Manufacturing). Prepare the adjusting entry for uncollectible accounts. Book General General Income Requirement Trial Balance Balance Sheet Journal Ledger Statement Choose the appropriate accounts to complete the company's balance sheet. Make sure to select 'adjusted from the dropdown, will then populate the balances in those accounts from the adjusted trial balance. Post-closing Dates: Jan 24 to: Jun 30 GREAT ADVENTURES, INC. Balance Sheet June 30, 2022 Assets Liabilities Current Assots: Current Liabilities: $ 0 0 0 rences $ OO 0 0 Total Current Liabilities 0 0 0 lo 0 0 0 Total Current Assets Long-term Assets: 0 0 Total Liabilities Stockholders' Equity 0 0 0 0 0 0 0 0 Total Stockholders' Equity Total Liabilities and Stockholders' Equity $ Total Assets $ 0 2 Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet 28 Each Journal entry is posted automatically to the general ledger. Post-closing Dates: Jan 24 to: Jun 30 General Lodger Account eBook Accounts Receivable Cash Debit No. Date Credit No. Date Debit Credit Print Balance 0 3,000 1 5,000 2 3,000 Balance 38,500 33,500 36,350 40,150 47,650 3 3,000 0 Jan 24 Feb 28 Mar 27 Apr 07 References 2,850 3,800 7,500 3 4 4,000 5 6 4,000 DO 2 D. Feb 25 Feb 28 Mar 19 Mar 27 Apr 30 May 31 Jun 15 4.000 0 5 8 9 10 6,000 6.000 6,000 0 24,000 24,000 Notes Receivable Allowance for Uncollectible Accounts Date Debit Credit No. No Date Debit Credit Balance 0 2,400 Balance 0 6,000 11 Jun 30 2,400 9 May 31 6,000 Interest Receivable Prepaid Rent Debit No. Date Debit Credit No. Date Credit Balance 0 40 Balance 400 12 Jun 30 40 Equipment Accumulated Depreciation No Date Debit Credit No. Date Debit Credit Balance 40,000 45,000 Balance 16.000 11 Jan 24 5,000 Accounts Payable Interest Payable Debit Credit No. Date Debit Credit No Date Balance 2,800 Balance 1,650 2 Deferred Revenue No. Date Debit Notes Payable Debit Credit Credit No. Date Balance 0 7,500 0 Balance 30,000 14.28 points 7,500 6 7 Apr 07 Apr 14 7,500 Retained Earnings Common Stock Debit Credit eBook No. Date No. Date Debit Credit Balance 20.000 13 14 Print Balance 33,450 125,680 67,320 Jun 30 Jun 30 92 230 58,360 Service Revenue References Interest Revenue No. Date Debit Credit Balance No. Date Debit Credit Balance 0 0 2 40 4 12 13 Jun 30 Jun 30 40 0 40 7 Feb 25 Mar 19 Apr 14 Apr 30 Jun 15 Jun 30 3,000 4,000 7.500 6,000 24,000 8 10 13 3,000 7,000 14,500 20,500 44,500 0 44,500 Sales Discounts Debit Credit No. Date Depreciation Expense Debit Credit No. Date Balance 8,000 (3.600) 14 D 21 Balance 0 150 350 80 Jun 30 3 5 13 150 200 Feb 28 Mar 27 Jun 30 11.600 270 Salaries Expense Supplies Expense Debit Credit No. Date No. Date Debit Credit Balance 500 (1,800) Balance 12,000 (18,000) 14 Jun 30 2,300 14 Jun 30 30,000 Bad Debt Expense No. Date Debit Interest Expense Debit Credit Credit Balance No. Date Balance 900 0 . 2 14 Jun 30 58,360 67,320 Service Ravenue Interest Revenue 28 No. Date Debit Credit Balance No. Date Debit Credit Balance 0 0 12 40 2 4 Feb 25 Mar 19 Jun 30 Jun 30 40 0 13 40 Apr 14 Apr 30 eBook 3,000 4,000 7.500 6,000 24,000 7 8 10 13 3,000 7,000 14,500 20,500 44,500 0 Jun 15 Jun 30 Print 44,500 Sales Discounts ferences No. Depreciation Expense Debit Credit Date Debit Credit No. Date Balance 0 150 Balance 8,000 (3.600) 3 14 Jun 30 150 200 11.600 Feb 28 Mar 27 Jun 30 5 13 350 80 270 Salaries Expense Supplies Expense Debit Credit No. Date No. Dato Debit Credit Balance 500 (1,800) Balance 12,000 (18,000) 14 Jun 30 2,300 14 Jun 30 30,000 Bad Debt Expense No. Date Interest Expense Debit Credit Debit Credit No. Date Balance 900 Jun 30 Balance 0 2,400 0 11 14 2,400 14 Jun 30 1,260 (360) Jun 30 2,400 Rent Expense Insurance Expense No. Date Debit Credit No. Date Debit Cradle Credit Balance 1,200 (3,600) 14 Jun 30 Balance 2,400 (3.600) 4,800 14 Jun 30 6,000