Practice Preparing Closing Entries Listed below are the accounts taken from the Dec. 31, 2019 adjusted trial balance of Teresita Nacion Publishers. Accounts Receivable Supplies Expense 260,000 710,000 Interest Payable Cash 40,000 160,000 Salaries Expense 2,270,000 Repairs 10,000 Printing revenues Prepaid Insurance Depreciation Expense Supplies 8,130,000 320,000 250,000 Unearned Printing Revenues 160,000 310,000 5,520,000 70,000 Accounts Payable Telephone Expense 190,000 20,000 210,000 300,000 Interest Expense Salaries Payable Printing Equipment Prepaid Advertising Nacion, Withdrawals Nacion, Capital Notes Payable Miscellaneous Expense Utilities Expense 340,000 2,500,000 90,000 80,000 1,500,000
Practice Preparing Closing Entries Listed below are the accounts taken from the Dec. 31, 2019 adjusted trial balance of Teresita Nacion Publishers. Accounts Receivable Supplies Expense 260,000 710,000 Interest Payable Cash 40,000 160,000 Salaries Expense 2,270,000 Repairs 10,000 Printing revenues Prepaid Insurance Depreciation Expense Supplies 8,130,000 320,000 250,000 Unearned Printing Revenues 160,000 310,000 5,520,000 70,000 Accounts Payable Telephone Expense 190,000 20,000 210,000 300,000 Interest Expense Salaries Payable Printing Equipment Prepaid Advertising Nacion, Withdrawals Nacion, Capital Notes Payable Miscellaneous Expense Utilities Expense 340,000 2,500,000 90,000 80,000 1,500,000
Chapter4: The Adjustment Process
Section: Chapter Questions
Problem 13PA: Prepare adjusting journal entries, as needed, considering the account balances excerpted from the...
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