Critical Thinking Assignment #$7$: Complete the following requirements, entering solutions in blue cells.

Critical ThinkingAssignment #7: Complete the following requirements, entering solutions in blue cells. Nhile CodyMountain Sports is used formostproblems, the problems are notdesigned to work in tandem. Cody Mountain Sports completed the following transactions. Complete all necessary journal entries. 1. On February 1st, CodyMountain Sports received a paymentof$12,300tocoverguiding services for a local middle school forthe nextschool quarter (three months). 2. On February29th, CodyMountain Sports recognized the service revenue attributable to thatmonth's North ofguiding services atthe middle school. I Cody Mountain Sports borrowed $10,000 on January31 , 2025 for6 months at3% interestbysigning a note. Calculate the date the note matures and owmuch interestexpense is generated bythis note overits full term. Belowthis, complete journal entries forthe borrowing and forthe repaymentatmaturiw. MaturityDate: Total InterestExpense: In the table below, complete an amortization table fora four-yearloan of$20,OOO. The interestis setat 10% peryearand equal cash payments will be made at$5,238.10 annually. Year Beginning Balance Payment Interest Principal 2 4 Ending Balance Date DebitAccount CreditAccount DebitAmount CreditAmount Date DebitAccount CreditAccount DebitAmount CreditAmount On January 1 lth, 2024, CodyMountain Sports sold merchandise for$l ,236and on January 18th the companysold merchandise for$457. Sales taxin Cody, WY is at4.5%ofthe sale. In the table below, prepare journal entries to accountforthe sales revenue (including the taxtransactions)and the payment sales taxes to the tax board on March 12th ofthe same year. CodyMountain Sports pays theiremployees monthly. Their Payroll Registers howed the payroll deductions belowforthe pay period thatended on March 25, 2023. Use this information to complete all payrolljoumalentries Gross Pay 45 700.00 Federal Income Taxes 9 597.00 SocialSecurity 1 371.00 Medicare 1 828 Date DebitAccount CreditAccount DebitAmount CreditAmount Date DebitAccount CreditAccount DebitAmount CreditAmount In the space below, please brieflyspeak to contigencies; when should a companyjoumalize and note the disclousre, when should they notjoumalize butnotdisclose in their notes, and when should they notjoumalize nordisclose in their notes? Alocal investmentbank issued bonds with a $502,000 face value, 7% interestrate, and a 5year-term, receiving $512,000. Interestis payable everysixmonths. Whatwill be the total amountofinterest expense overthe life ofthe bonds? Total InterestExpense: