Sell $16,000 of common stock to Suzie.
Sell $16,000 of common stock to Tony.
Purchase a one-year insurance policy for $6,000 ($500 per month)to cover injuries to participants during outdoor clinics.
Pay legal fees of $1,200 associated with incorporation.
Purchase officesupplies of $1,700 on account.
Pay for advertising of $260 to a local newspaper for an upcomingmountain biking clinic to be held on July 15. Attendees will becharged $50 the day of the clinic.
Purchase 10mountain bikes, paying $10,800 cash.
On the day of the clinic, Great Adventures receives cash of$3,500 from 70 bikers. Tony conducts the mountain bikingclinic.
Because of the success of the first mountain biking clinic, Tonyholds another mountain biking clinic and the company receives$4,100.
Pay for advertising of $830 to a local radio station for akayaking clinic to be held on August 10. Attendees can pay $150 inadvance or $200 on the day of the clinic.
Great Adventures receives cash of $7,500 in advance from 50kayakers for the upcoming kayak clinic.
create a journal entry.