Adjusted Trial Balance Debit Credit Cash $22,900 Prepaid Insurance 4,000 44,000 Fixed Assets Notes Payable $40,000 25,000 Common Stock Retained Earnings 48,350 Dividends 22,000 Sales Revenue 150,000...

Use the following T-accounts to prepare the four journal entries required to close the books:

Adjusted Trial Balance<br>Debit<br>Credit<br>Cash<br>$22,900<br>Prepaid Insurance<br>4,000<br>44,000<br>Fixed Assets<br>Notes Payable<br>$40,000<br>25,000<br>Common Stock<br>Retained Earnings<br>48,350<br>Dividends<br>22,000<br>Sales Revenue<br>150,000<br>Automobile Expense<br>26,500<br>20,000<br>122,400<br>1,450<br>$263,350<br>Insurance Expense<br>Salaries Expense<br>Supplies Expense<br>$263,350<br>

Extracted text: Adjusted Trial Balance Debit Credit Cash $22,900 Prepaid Insurance 4,000 44,000 Fixed Assets Notes Payable $40,000 25,000 Common Stock Retained Earnings 48,350 Dividends 22,000 Sales Revenue 150,000 Automobile Expense 26,500 20,000 122,400 1,450 $263,350 Insurance Expense Salaries Expense Supplies Expense $263,350

Jun 08, 2022

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Adjusted Trial Balance Debit Credit Cash $22,900 Prepaid Insurance 4,000 44,000 Fixed Assets Notes Payable $40,000 25,000 Common Stock Retained Earnings 48,350 Dividends 22,000 Sales Revenue 150,000...

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