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  3. the july 31, 2018 adjusted trial balance of bubba

The July 31, 2018 adjusted trial balance of Bubba Company is found below: ...

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Accounting

The July 31, 2018 adjusted trial balance of Bubba Company is found below:

Cash

$1,000

Accounts receivable

1,500

Supplies

500

Notes receivable

600

Equipment

32,000

Accumulated depreciation - equipment

$14,000

Land

58,000

Accounts payable

500

Notes payable

1,000

Mortgage payable

30,000

Common shares

100

Retained earnings

32,000

Dividends

2,000

Repairs revenue

55,000

Wages expense

20,000

Supplies expense

1,000

Depreciation expense

3,000

Maintenance expense

5,000

Interest expense

2,000

Income tax expense

6,000

Totals

$132,600

$132,600

Required:

Prepare a closing entry/entries for the company.

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