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I can't seem to balance the balance sheet, when removing sales and service revenue from the 31st, it balances, however that is part of the question being correct is there something else that I am missing. I need my balance sheet to balance

Great Adventures Problem AP6-1 (GL)

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Now that operations for outdoor clinics and TEAM events are running smoothly, Suzie thinks of another area for business expansion. She notices that a few clinic participants wear multiuse (MU) watches. Beyond the normal timekeeping features of most watches, MU watches are able to report temperature, altitude, and barometric pressure. MU watches are waterproof, so moisture from kayaking, rain, fishing, or even diving up to 100 feet wont damage them. Suzie decides to have MU watches available for sale at the start of each clinic. The following transactions relate to purchases and sales of watches during the second half of 2022. All watches are sold for $800 each.

Jul.		17		Purchased 95 watches for $14,250 ($150 per watch) on account.
Jul.		31		Sold 90 watches for $72,000 cash.
Aug.		12		Purchased 70 watches for $11,200 ($160 per watch) cash.
Aug.		22		Sold 60 watches for $48,000 on account.
Sep.		19		Paid for watches purchased on July 17.
Sep.		27		Receive cash of $28,800 for watches sold on account on August 22.
Oct.		27		Purchased 155 watches for $26,350 ($170 per watch) cash.
Nov.		20		Sold 120 watches for $96,000 cash.
Dec.		4		Purchased 130 watches for $23,400 ($180 per watch) on account.
Dec.		8		Sold 70 watches for $56,000 on account.

Late in December, the next generation of multiuse (MU II) watches is released. In addition to all of the features of the MU watch, the MU II watches are equipped with a global positioning system (GPS) and have the ability to download and play songs and videos off the Internet. The demand for the original MU watches is greatly reduced. As of December 31, the estimated net realizable value of MU watches is only $100 per watch.

No Date General Journal Debit Credit 1 Jul 17 14,250 Inventory Accounts Payable 14,250 2 Jul 31 Cash 72,000 OO Sales Revenue 72,000 3 Jul 31 Cost of Goods Sold 13,500 Inventory 13,500 4 Aug 12 11,200 Inventory Cash 11,200 5 Aug 22 Accounts Receivable 48,000 Oo Sales Revenue 48,000 > 6 Aug 22 Cost of Goods Sold 9,550 > Inventory 9,550 7 Sep 19 Accounts Payable 14,250 > Cash 14,250 8 Sep 27 Cash 28,800 >> Accounts Receivable 28,800 9 Oct 27 26,350 Inventory Cash o 26,350 10 Nov 20 Cash 96,000 Sales Revenue 96,000 11 Nov 20 Cost of Goods Sold 20,250 Inventory 20,250 12 Dec 04 23,400 Inventory Accounts Payable 23,400 13 Dec 08 Accounts Receivable > 56,000 Sales Revenue 56,000 14 Dec 08 Cost of Goods Sold 12,100 Inventory 12,100 15 Dec 31 Cost of Goods Sold 8,800 > Inventory O 8,800 16 Dec 31 Sales Revenue 272,000 Service Revenue 52,000 17 Dec 31 162,100 2,000 39,000 3,900 3,300 Retained Earnings Supplies Expense Salaries Expense Bad Debt Expense Interest Expense Rent Expense Income Tax Expense Insurance Expense Depreciation Expense Cost of Goods Sold 3,900 16,000 6,300 23,500 64,200 Requirement Income General Journal General Ledger Trial Balance Balance Sheet Statement 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. Post-closing Dates: Jul 17 to: Dec 31 General Ledger Account Cash Accounts Receivable No. Date Debit Credit Balance No. Date Debit Credit 2 Jul 31 72,000 5 48,000 4 Balance 39,000 87,000 58,200 114,200 8 Aug 22 Sep 27 Dec 08 11,200 14,250 28,800 37,220 109,220 98,020 83,770 112,570 86,220 182,220 7 13 Aug 12 Sep 19 Sep 27 Oct 27 56,000 8 28,800 9 26,350 10 Nov 20 96,000 Allowance for Uncollectible Accounts Inventory No. Debit Credit No. Date Debit Credit Balance Date Jul 17 Balance 3,900 Jul 17 0 1 14,250 3 13,500 4 Jul 17 Jul 31 Aug 12 Aug 22 Oct 27 11,200 14,250 750 11,950 2,400 28,750 8,500 6 9,550 9 26,350 11 Nov 20 20,250 12 23,400 Dec 04 Dec 08 Dec 31 31,900 19,800 14 12,100 8,800 15 11,000 Equipment Accumulated Depreciation No. Date Debit Credit No. Date Debit Credit Balance 60,000 Balance 31,500 Jul 17 Jul 17 Accounts Payable Interest Payable No. Date Debit Credit No. Date Debit Credit Balance 1,500 Jul 17 Jul 17 Jul 17 - 14,250 Balance 5,800 20,050 5,800 29,200 7 14,250 Sep 19 Dec 04 12 23,400 Income Tax Payable Notes Payable No. Date Debit Credit No. Date Debit Credit Balance Balance 16,000 Jul 17 Jul 17 60,000 Common Stock Retained Earnings No. Date Debit Credit No. Date Debit Credit Balance 26,525 Jul 17 Jul 17 Balance 37,200 (124,900) 17 Dec 31 162,100 Service Revenue Sales Revenue No. Date Debit Credit No. Date Debit Credit Balance Balance 52,000 Jul 17 0 16 Dec 31 52,000 2 Jul 17 Jul 31 Aug 22 Nov 20 72,000 48,000 5 10 96,000 56,000 72,000 120,000 216,000 272,000 0 13 Dec 08 Dec 31 16 272,000 Sales Discounts Interest Revenue No. Debit Credit No. Date Debit Credit Balance Date Jul 17 Balance 500 Jul 17 195 Cost of Goods Sold Depreciation Expense No. Date Debit Credit Balance No. Date Debit Credit Balance 23,500 0 Jul 17 3 Jul 31 17 Dec 31 23,500 6 11 Aug 22 Nov 20 Dec 08 13,500 9,550 20,250 12,100 8,800 13,500 23,050 43,300 55,400 64,200 14 15 Dec 31 17 Dec 31 64,200 0 Supplies Expense Salaries Expense No. Date Debit Credit No. Date Debit Credit Balance Balance 2,000 Jul 17 Jul 17 39,000 17 Dec 31 2,000 0 17 Dec 31 39,000 0 Bad Debt Expense Interest Expense No. Debit Credit No. Date Debit Credit Date Jul 17 Balance 3,900 Balance 3,300 Jul 17 17 Dec 31 3,900 0 17 Dec 31 3,300 0 Rent Expense Income Tax Expense No. Date Debit Credit No. Date Debit Credit Balance 3,900 Balance 16,000 Jul 17 Jul 17 Bad Debt Expense Interest Expense No. Date Debit Credit Balance No. Date Debit Credit Balance Jul 17 3,900 Jul 17 3,300 17 Dec 31 3,900 0 17 Dec 31 3,300 0 Rent Expense Income Tax Expense No. Date Debit Credit Balance No. Date Debit Credit Balance Jul 17 3,900 Jul 17 16,000 0 17 Dec 31 3,900 0 17 Dec 31 16,000 Insurance Expense No. Date Debit Credit Balance Jul 17 6,300 17 Dec 31 6,300 0 Post-closing GREAT ADVENTURES, INC. Trial Balance December 31, 2022 Account Title Debit Credit $ 182,220 114,200 3,900 11,000 60,000 Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Equipment Accumulated Depreciation Accounts Payable Interest Payable Income Tax Payable Notes Payable Common Stock Retained Earnings Sales Discounts Interest Revenue 31,500 29,200 1,500 16,000 60,000 26,525 124,900 500 195 168,820 Total $ 492,820 $ Income Statement For the Period Ended December 31, 2022 Revenues Sales Revenue $ 0 Service Revenue 0 Sales Discounts (500) 0 Net Sales (500) Cost of Goods Sold 0 Gross Profit $ (500) 0 0 Operating Expense: Depreciation Expense Supplies Expense Salaries Expense Bad Debt Expense Rent Expense Insurance Expense 0 lololololo 0 0 0 0 0 (500) Total Operating Expenses Operating Income (Loss) Interest Expense Interest Revenue 0 olol 195 Income Before Income Taxes (305) 0 Income Tax Expense BIO Net Income $ (305) GREAT ADVENTURES, INC. Balance Sheet December 31, 2022 Assets Liabilities Current Assets: Cash Current Liabilities: Accounts Payable Income Tax Payable 29,200 OO Accounts Receivable 16,000 olololol 182,220 114,200 (3,900) 11,000 Allowance for Uncollectible Accounts 0 Inventory Interest Payable 1,500 0 Total Current Liabilities 0 Notes Payable Total Liabilities 46,700 60,000 106,700 303,520 Total Current Assets Long-term Assets: Equipment Accumulated Depreciation Stockholders' Equity Common Stock 60,000 (31,500) 0 OOI 26,525 (125,205) Retained Earnings 0 0 Total Stockholders' Equity Total Liabilities and Stockholders' Equity (98,680) 8,020 Total Assets $ 332,020 $

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