answer 6 and 7. thankyou

- Additional interest for five months needs to be accrued on the $30,000,6% loan obtained on August 1, 2021. Recall that annual Interest is paid each July 31. - Assume that $10,000 of the $30,000 loan discussed above is due next year: - By the end of the year, $20,000 in gift cards have been redeemed. The company had sold gift cards of $25,000 during the year an recorded those as Deferred Revenue. - 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 $12.000. - For sales of MU watches, Great Adventures offers a warranty against defect for one year. At the end of the yeat, the company estimates future warranty costs to be $4,000. Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Joumal Entry Required" In the first account field.) At the end of 2022, the following information is available for Great Adventures. - Additional interest for five months needs to be accrued on the $30,000,6% loan obtained on August 1, 2021, Recall that annual interest is paid each July 31. - Assume that $10,000 of the $30,000 loan discussed above is due next year. - By the end of the year, $20,000 in gift cards have been redeemed, The company had sold gift cards of $25,000 during the year a recorded those as Deferred Revenue. - 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 $12,000. - For sales of MU watches, Great Adventures offers a warfanty against defect for one yeat. At the end of the year, the company estimates future warranty costs to be $4,000. Prepare the journal entries for transactions. (1f no entry is required for a particular transaction/event, select "No loumal Entiy. Requilied" in the first account field.) Required" in the first account field.) \begin{tabular}{|l|l|l|} \hline No & Date & \\ \hline 1 & Dec 31 & Interest Expense \\ \hline & & Interest Payable \\ \hline & & \\ \hline 2 & Dec 31 & Notes Payable (Long-term) \\ \hline & & Notes Payable (Current) \\ \hline & & \\ \hline 3 & Dec 31 & Deferred Revenue \\ \hline & & Salos Revenue \\ \hline & & \\ \hline 4 & Dec 31 & Loss \\ \hline & & Contingent Liability \\ \hline & & \\ \hline 5 & Dec 31 & Warranty Expense \\ \hline & & Warranty Liability \\ \hline & & \\ \hline 0 & Dec 31 & Sales Revenue \\ \hline & & Sorvico Revenue \\ \hline & & \\ \hline & Dec 31 & \\ \hline & & \\ \hline \end{tabular} Adjusted Common Stock Retainod Eamings Service Revenue Sales Revenue Sales Discounts Journal entry worksheet 1 2 (3) (4) Record entry to close the revenue accounts. Note: Enter debits before credits. Record entry to close the expense accounts. Note: Enter debits before credits