Below you will find an adjusted trial balance.
Trial Balance
Accounts Debit Credit
Ca...
Business, 15.02.2021 20:00 lclaudettecarte3550
Below you will find an adjusted trial balance.
Trial Balance
Accounts Debit Credit
Cash 34,000
Accounts Receivable 15,000
Inventory 23,000
Equipment 100,000
Accumulated Depr. 40,000
Accounts Payable 6,000
Notes Payable 70,000
Common Stock 10,000
Retained Earnings 32,000
Dividends 4,000
Service Revenue 110,000
Sales Revenue 215,000
Interest Revenue 2,000
Cost of Goods Sold 155,000
Salaries Expense 80,000
Tax Expense 30,000
Interest Expense 8,000
Utilities Expense 25,000
Supplies Expense 11,000
Totals 485,000 485,000
Required:
Prepare the closing entry for Revenues.
Answers: 1
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