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Beachside Realty rents condominiums and furnishings. Below...

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Accounting

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Beachside Realty rents condominiums and furnishings. Below is the adjusted trial balance at December 31. Debit Credit Cash 1,500 Accounts Receivable 2,000 Interest Receivable 100 Prepaid Insurance 1,600 Notes Receivable (long-term) 2.800 Equipment 15,000 Accumulated Depreciation 3.000 Accounts Payable 2,400 Accrued Expenses Payable 3.920 Income Taxes Payable 2.700 Uncanned Rent Fees 500 Common Stock 5.000 Retnined Earnings 2.700 Dividends 2.000 Rent Fees Earned 37.000 Furniture Rental Revenue 1.200 Interest Revenue 100 Wages Expense 19.000 Fumiture Rental Revenue 1,200 = = = Interest Revenue 100 | Wages Expense 19.000 Depreciation Expense 1.800 Utilities Expense 320 Insurance Expense 7001 Maintenance Expense 9.000 Income Tax Expense 2.700 58,5201 58.520 Prepare the closing entry required to transfer the income or loss at the end of the period

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