Answer is not complete. Each journal entry is posted automatically to the general ledger. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Answer is not complete. Prepare an income statement for the period ended December 31, 2025. Choose the appropriate accounts to complete the company's income statement. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Salaries Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 32,500 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Bad Debt Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 3,250 \\ \hline \end{tabular} \begin{tabular}{|l|c|c|c|c|} \hline \multicolumn{7}{|c|}{ Interest Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 1,390 \\ \hline 1 & December 31 & 835 & & 2,225 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Rent Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 4,100 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Income Tax Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 16,200 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Insurance Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 7,400 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Repairs and Maintenance Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 740 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|r|} \hline \multicolumn{7}{|c|}{ Warranty Expense } \\ No. & Date & Debit & Credit & \multicolumn{1}{c|}{ Balance } \\ \hline & & & & 0 \\ \hline 5 & December 31 & 7,400 & & 7,400 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|r|} \hline \multicolumn{5}{|c|}{ Loss } \\ \hline No. & Date & Debit & Credit & \multicolumn{1}{c|}{ Balance } \\ \hline & & & & 0 \\ \hline 4 & December 31 & 15,400 & & 15,400 \\ \hline \end{tabular} RWP8-1 (Algo) Great Adventures Continuing Case (GL) At the end of 2025, the following information is avallable for Great Adventures. - Additional Interest for five months needs to be accrued on the $33,400,6% note payable obtalned on August 1,2024 . Recall that annual Interest is pald each July 31. - Assume that $13,400 of the $33,400 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 glft cards have been redeemed. The company had sold glft cards of $28,400 during the year and recorded those as Deferred Revenue. - Great Adventures Is a defendant In IItigation Involving a blking accident during one of Its adventure races. The company belleves the likellhood of payment occurring is probable, and the estimated amount to be paid is $15,400. - For sales of MU watches, Great Adventures offers a warranty agalnst defect for one year. At the end of the year, the company estlmates future warranty costs to be $7,400. Answer is not complete. Prepare a classified balance sheet as of December 31,2025. Choose the appropriate accounts to complete the company's balance sheet The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. (*) Answer is not complete. Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Journal Entr \begin{tabular}{|l|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Notes Payable (Long-term) } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 33,400 \\ \hline 2 & December 31 & 13,400 & & 20,000 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|r|r|} \hline \multicolumn{5}{|c|}{ Contingent Liability } \\ \hline No. & Date & Debit & Credit & \multicolumn{1}{c|}{ Balance } \\ \hline & & & & 0 \\ \hline \end{tabular} \begin{tabular}{|l|c|c|c|r|} \hline \multicolumn{5}{|c|}{ Warranty Liability } \\ \hline No. & Date & Debit & Credit & \multicolumn{1}{c|}{ Balance } \\ \hline & & & & 0 \\ \hline 5 & December 31 & & 7,400 & 7,400 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Common Stock } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 20,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Retained Earnings } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 35,150 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Service Revenue } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 46,200 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Sales Revenue } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 134,000 \\ \hline 3 & December 31 & & 20,000 & 154,000 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Sales Discounts } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 520 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Interest Revenue } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 460 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Cost of Goods Sold } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 40,200 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Depreciation Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 18,950 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Supplies Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 1,350 \\ \hline \end{tabular} RWP8-1 (Algo) Great Adventures Continuing Case (GL) At the end of 2025, the following Information is avallable for Great Adventures. - Additional Interest for five months needs to be accrued on the $33,400,6% note payable obtalned on August 1, 2024. Recall that annual Interest is pald each July 31. - Assume that $13,400 of the $33,400 note discussed above is due next year. Record the entry to reclassify the current portion of t long-term note. - By the end of the year, $20,000 In glft cards have been redeemed. The company had sold glft cards of $28,400 during the year recorded those as Deferred Revenue. - Great Adventures Is a defendant In IItigation Involving a blking accident during one of Its adventure races. The company belleves the IIkellhood of payment occurring is probable, and the estimated amount to be pald is $15,400. - For sales of MU watches, Great Adventures offers a warranty agalnst defect for one year. At the end of the year, the company estlmates future warranty costs to be $7,400. Answer is not complete. 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. Review the 'Trial Balance' as of December 31, 2025, in the 'Trial Balance' tab. 3. Prepare a multiple-step income statement for the period ended December 31, 2025, in the 'Income Statement' tab. 4. Prepare a classified balance sheet as of December 31,2025 , in the 'Balance Sheet' tab. 5. Record the closing entries in the 'General Journal' tab