[The following information applies to the questions displayed below.]The following adjusted trial balance at December 31 of Wilson Trucking Company.Account TitleCashAccounts receivableOffice suppliesTrucksAccumulated depreciation-TrucksAccounts payableInterest payableLong-term notes payableK. Wilson, CapitalK. Wilson, WithdrawalsTrucking revenueDepreciation expense-TrucksSalaries expenseOffice supplies expenseInterest expenseTotalsView transaction listDebit$ 9,90019,4004,900191,000104,00021,90025,40066,700Prepare the closing entries for the year ended December 31.Credit$ 37,90017,7005,90067,500189,000149,0009,90013,900$ 467,000 $ 467,000 Prepare the closing entries for the year ended December 31.View transaction listJournal entry worksheet123DateDecember31Prepare the entry to close the revenue account(s).Note: Enter debits before credits.4General JournalDebitCredit+>

Closing entries are required to close the temporary accounts of the company. Those accounts that are…

Answered: Prepare the closing entries for the…

Business

Accounting

Prepare the closing entries for the year ended December 31.

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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