please help me with the closing entries

Journal entry worksheet 1 30 31 32 Prepare the closing entry for revenue. Note: Enter debits before credits. Tony and Suzie graduate from college in May 2021 and begin developing their new business. They begin by offering clinics for ba outdoor activities such as mountain biking or kayaking. Upon developing a customer base, they'll hold their first adventure races. These races will involve four-person teams that race from one checkpoint to the next using a combination of kayaking. mountain biking, orienteering, and trail running. In the long run, they plan to sell outdoor gear and develop a ropes course for outdoor enthusiasts. On July 1, 2021, Tony and Suzie organize their new company as a corporation, Great Adventures Inc. The articles of incorporation state that the corporation will sell 23,000 shares of common stock for $1 each. Each share of stock represents a unit of ownership. Tony and Suzie will act as co-presidents of the company. The following transactions occur from July 1 through December 31. Jul. I Sell $11,5e0 of comon stock to Suzie. Jul. 1 selt s11, 5ee of comon stock to Tony. Jut. 1 Purchase a one-year insurance policy for $5,526 ( $460 per month) to cover injuries to participants during outdoor clinics. Jul. 2 Pay legal fees of $1,100 associated with incorporation. Jul. 4 Purchase office supplies of $1,7 ee on account. Jul. 7 Pay for advertising of $200 to a local newspaper for an upcoming nouhtain biking ctinic to be hetd on Juty 1. Attendees witl be charged 560 on the day of the clinic. Jut. 8 Purchase 10 mountain bikes, paying $17,520 cash. Jul. 1s On the day of the clinic, Great Adventures receives cash of $3,6ef from 60 bikers. Tony conducts the mountai biking clinic. Jul. 22 because of the success of the first mountain biking clinic, Tony hotds another mountain biking clinic and ths Jul. 24 company receives $4,15P. Du. 24 Pay s6ie to a local radio station for advertising to appear imnediately. A kayaking clinic will be held on August 10, and attendees can pay $150 in advance or $200 on the day of the clinic. Jul. 30 Great Adventures recelves cash of 59,0e0 in advance from 6ekayakers for the upcoming kayak clinic. Aug. I Great Adventures obtains a \$42, eae low-1nterest loan for the company from the city council, which has recent] passed an initiative encouraging business development related to outdoor activities. The loan is due in three years, and 6s annual interest is due each year on July 31 . Aug. 4 The conpany purchases 14 kayaks, paying $13,000 cash. Aug. 10 Twenty additional kayakers pay $4,00e ( $20e each), in addition to the $9,000 that was paid in advance on Ju 3e, on the day of the clinic. Tony conducts the first kayak clinic. Aug. 17 Tony conducts a second kayak clinic, and the company receives $12,4ee cash. Aug. 24 office supplies of $1,70e purchased on July 4 are paid in fult. Sep. 1 To provide better storage of mountain bikes and kayaks when not in use, the company rents a storage shed fo one year, paying $3,84e ( $320 per month) in advance. Sep. 21 Tony conducts a rock-climbing clinic. The company receives $14,300 cash. oct. 17 Tony conducts an orienteering clinic. Participants practice how to understand a topographical map, read an altimeter, use a compass, and orient through heavily wooded areas. The company receives $19, eee cash, Dec. 1 Tony decides to hotd the company's first adventure race on December 15 . Four-person teams will race from checkpoint to checkpoint using a combinaton of mountain biking, kayaking, orienteering, trail running, and rock-climbing skills. The first team in each category to complete all checkpoints in order wins. The entry for each team is $66e. Dec. 5 To help organize and promote the race, Tony hires his college roomate, Victor. Victor will be paid $40 in salary for each team that competes in the race. His salary will be paid after the race. Dec. 8 The company pays $1,900 to purchase a permit from a state park where the race witl be hetd. The amount is recorded as a miscellaneous expense. Dec. 12 The company purchases racing supplies for $3,000 on account due in 30 days. Supplies include trophies for th top-finishing teass in each category, promotional shirts, snack foods and drinks for participants, and field markers to prepare the racecourse. Dec. 15 The company receives $26,480 cash from a total of forty teams, and the race is held. Dec. 16 The company pays Victor's salary of $1,600. Dec. 31 The company pays a dividend of $3,700 ( $1,850 to Tony and $1,850 to suzie). Dec. 31 Using his personal money, Tony purchases a diamond ring for $4,40e. Tony surprises suzie by proposing that get married. Suzie accepts and they get married The following information reiates to year-end adjusting entries as of December 31,2021. a. Depreciation of the mountain bikes purchased on July 8 and kayaks purchased on August 4 totals $6.100. b. Six months' of the one-year insurance policy purchased on July 1 has expired. c. Four months of the one-year rental agreement purchased on September 1 has expired. d. Of the $1,700 of office supplies purchased on July 4,$330 remains. e. Interest expense on the $42,000 loan obtained from the city council on August 1 should be recorded. f. Of the $3,000 of racing supplies purchased on December 12, $140 remains. vec. 31 using nis personas money, iony purcnases a asamona ring ror 74,400 . lony surprises suz get married. Suzie accepts and they get married! The following information relates to year-end adjusting entries as of December 31,2021. a. Depreciation of the mountain bikes purchased on July 8 and kayaks purchased on August 4 totals $6,10 b. Six month' of the one-year insurance policy purchased on July 1 has expired. c. Four months of the one-year rental agreement purchased on September 1 has expired. d. Of the $1,700 of office supplies purchased on July 4,$330 remains. e. Interest expense on the $42,000 loan obtained from the city council on August 1 should be recorded. f. Of the $3,000 of racing supplies purchased on December 12,$140 remains. g. Suzie calculates that the company owes $14,200 in income taxes. Prepare the closing entry for expenses. Note: Enter debits before credits. Prepare the closing entry for cash dividends. Note: Enter debits before credits