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Use the information below to prepare the closing entries in journal format and post to the...

Use the information below to prepare the closing entries in journal format and post to the ledger (T Accounts)

Adjusted Trial Balance

December 31, 2014

Debit Credit

Cash $28,000 debit

Accounts Receivable $10,000 debit

Prepaid Rent $6,000 debit

Accounts Payable $18,000 credit

Capital stock $34,000 credit

Equiptment $58,000 debit

Accumulated Depreciation $6,000 credit

Notes Payable $10,000 credit

Unerned Revenue $1,000 credit

Retained Earnings $7,500 credit

Sales $32,000 credit

Rent Expense $1,000 debit

Utlility Expense $5,000 debit

Dividends $500 debit

Totals $108,500 $108,500

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ekkarill92 answered 1 year ago
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