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  3. 3. using the following trial balance, prepare clos

3. Using the following trial balance, prepare closing entries: 12 points (3 points per closing...

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Accounting

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3. Using the following trial balance, prepare closing entries: 12 points (3 points per closing entry) $ 6,400 10.200 46,500 3.600 800 108,000 $ 12,000 28,500 4,650 Cash Accounts receivable Merchandise inventory Office supplies Prepaid Advertising Equipment Accumulated depreciation, equipment Land Accounts payable Salaries payable Rent payable Long-term notes payable Common Stock Retained Earnings Dividends Service Revenue Cost of Goods Sold Rent expense Depreciation expense, building Totals 2,750 850 24,000 46,000 110,400 24,000 169,200 47,250 45,900 48,700 $369.850 $369.850 Accounts Debit Credit Date 12/31 (To close out revenues) 12/31 (To close our expenses) (To close out income summary) 12/31 (To close out dividends)

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