Miller CompanyAdjusted Trial BalanceDecember 31Line Item DescriptionDebitCreditCash8,130 Accounts Receivable3,300 Prepaid Expenses2,750 Equipment10,400 Accumulated Depreciation 2,200Accounts Payable 2,700Notes Payable 1,000Common Stock 9,200Retained Earnings 2,000Dividends4,870 Fees Earned 36,600Wages Expense12,450 Rent Expense4,900 Utilities Expense3,475 Depreciation Expense2,150 Miscellaneous Expense1,275 Total53,70053,700 Question Content AreaJournalize the closing entries. If an amount box does not require an entry, leave it blank.

The journal entries are prepared to record the business transactions on regular basis. The closing…

Answered: Miller CompanyAdjusted Trial…

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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Line Item Description	Debit	Credit
Cash	8,130
Accounts Receivable	3,300
Prepaid Expenses	2,750
Equipment	10,400
Accumulated Depreciation		2,200
Accounts Payable		2,700
Notes Payable		1,000
Common Stock		9,200
Retained Earnings		2,000
Dividends	4,870
Fees Earned		36,600
Wages Expense	12,450
Rent Expense	4,900
Utilities Expense	3,475
Depreciation Expense	2,150
Miscellaneous Expense	1,275
Total	53,700	53,700

Question Content Area

Journalize the closing entries. If an amount box does not require an entry, leave it blank.

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