Give its closing Closing Entries sdsN 6 3lu291Trial Balance28 February 20A20AParticularsCash in BankDebitCreditAccounts Receivable758,180382,00045,00010,00080,000Merchandise InventoryStore Supplies InventoryPrepaid InterestTransportation EquipmentNotes PayableAccounts Payable700,000500,000305,0001,045,000anwE. Detoya, CapitalE. Detoya, Drawing30,000902,00035,000SalesInstallation Income5,0008,000675,000Sales DiscountsSales Returns & AllowancesPurchases3,600Purchase Discounts6,500Purchase Returns & AllowancesFreight-InRent ExpenseSalaries & Wages5,00030,000sidpb 50,00015,000Taxes & Licenses3,920Freight-Out2,797,1002,797,100TOTAL

Closing Entries - Closing entries are required to close the temporary accounts after making…

20A Particulars Cash in Bank F Debit Credit 758,180 382,000 45,000 10,000 80,000 Accounts Receivable Merchandise Inventory Store Supplies Inventory Prepaid Interest Transportation Equipment Notes Payable Accounts Payable E. Detoya, Capital E. Detoya, Drawing 700,000 500,000 305,000 1,045,000 30,000 902,000 35,000 Sales Installation Income 5,000 8,000 675,000 Sales Discounts Sales Returns & Allowances Purchases 3,600 6,500 Purchase Discounts Purchase Returns & Allowances Freight-In Rent Expense Salaries & Wages Taxes & Licenses 5,000 30,000 50,000 15,000 3,920 2,797,100 Freight-Out 2,797,100

20A Particulars Cash in Bank F Debit Credit 758,180 382,000 45,000 10,000 80,000 Accounts Receivable Merchandise Inventory Store Supplies Inventory Prepaid Interest Transportation Equipment Notes Payable Accounts Payable E. Detoya, Capital E. Detoya, Drawing 700,000 500,000 305,000 1,045,000 30,000 902,000 35,000 Sales Installation Income 5,000 8,000 675,000 Sales Discounts Sales Returns & Allowances Purchases 3,600 6,500 Purchase Discounts Purchase Returns & Allowances Freight-In Rent Expense Salaries & Wages Taxes & Licenses 5,000 30,000 50,000 15,000 3,920 2,797,100 Freight-Out 2,797,100

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter8: Budgets And Bank Reconciliations

Section: Chapter Questions

Problem 2.8C

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