At the end of 2022, the following information is available for Great Adventures. Additional interest for five months needs to
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At the end of 2022, the following information is available for Great Adventures.
- Additional interest for five months needs to be accrued on the $33,200, 6% loan obtained on August 1, 2021. Recall that annual interest is paid each July 31.
- Assume that $13,200 of the $33,200 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 $28,200 during the year and 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 $15,200.
- 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 $7,200. "Help me please fill all numbers and record events"