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In: Accounting

The adjusted trial balance at April 30, 2017, for Willard Co. follows. Account Debit Credit Cash...

The adjusted trial balance at April 30, 2017, for Willard Co. follows.
Account Debit Credit
Cash $106,300
Accounts receivable 25,620
Trucks 560,000
Accumulated depreciation, trucks $84,000
Franchise 55,000
Accounts payable 20,540
Salaries payable 10,200
Unearned revenue 35,000
Sid Willard, capital 250,000
Sid Willard, withdrawals 75,000
Plumbing revenue 850,630
Depreciation expense, trucks 84,000
Salaries expense 272,450
Rent expense 60,000
Advertising expense 12,000
Income summary
Totals $1,250,370 $1,250,370
Required:
1.      Prepare the four closing entries.
2.      Prepare a post-closing trial balance.

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ekkarill92 answered 3 years ago
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