The following accounts appear in the ledger of Monroe Entertainment Co. All accounts have normal balances. Accounts Payable $496 Fees Earned $3,243 Accounts Receivable 797 Insurance Expense 415 Cash 2,113 Kim Monroe, Capital 5,564 706 Land 2,604 Kim Monroe, Drawing 586 Prepaid Insurance 2,082 Wages Expense When a trial balance is prepared, the total of the debits will be Oa. $5,564 Ob. $9,303 Oc. $3,406 Od. $2,242

The following accounts appear in the ledger of Monroe Entertainment Co. All accounts have normal balances. Accounts Payable $496 Fees Earned $3,243 Accounts Receivable 797 Insurance Expense 415 Cash 2,113 Kim Monroe, Capital 5,564 706 Land 2,604 Kim Monroe, Drawing 586 Prepaid Insurance 2,082 Wages Expense When a trial balance is prepared, the total of the debits will be Oa. $5,564 Ob. $9,303 Oc. $3,406 Od. $2,242

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter5: Completing The Accounting Cycle

Section: Chapter Questions

Problem 3EA: For each of the following accounts, identify whether it would be closed at year-end (yes or no) and...

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