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D. Closing journal entries E. Post-Closing Trial Balance Adjusted Trial Balance Debit Credit Cash $ 55,200 Accounts Receivable 30,200 Prepaid Insurance 6,000 Land 30,000 Accounts Payable Salaries Payable Common Stock $ 14,300 6,100 26,000 Retained Earnings Dividends 38,900 16,500 Service Revenue 211,850 Insurance Expense Salaries Expense Miscellaneous Expense 24,000 128,350 6,900 $297,150 $297,150

D. Closing journal entries E. Post-Closing Trial Balance Adjusted Trial Balance Debit Credit Cash $ 55,200 Accounts Receivable 30,200 Prepaid Insurance 6,000 Land 30,000 Accounts Payable Salaries Payable Common Stock $ 14,300 6,100 26,000 Retained Earnings Dividends 38,900 16,500 Service Revenue 211,850 Insurance Expense Salaries Expense Miscellaneous Expense 24,000 128,350 6,900 $297,150 $297,150

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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D. Closing journal entries E. Post-Closing Trial Balance Adjusted Trial Balance Debit Credit Cash $ 55,200 Accounts Receivable 30,200 Prepaid Insurance 6,000 Land 30,000 $ 14,300 Accounts Payable Salaries Payable 6,100 Common Stock 26,000 Retained Earnings Dividends 38,900 16,500 Service Revenue 211,850 Insurance Expense Salaries Expense Miscellaneous Expense 24,000 128,350 6,900 $297,150 $297,150
Transcribed Image Text:D. Closing journal entries E. Post-Closing Trial Balance Adjusted Trial Balance Debit Credit Cash $ 55,200 Accounts Receivable 30,200 Prepaid Insurance 6,000 Land 30,000 $ 14,300 Accounts Payable Salaries Payable 6,100 Common Stock 26,000 Retained Earnings Dividends 38,900 16,500 Service Revenue 211,850 Insurance Expense Salaries Expense Miscellaneous Expense 24,000 128,350 6,900 $297,150 $297,150
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