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Universal Company Adjusted Trial Balance December 31, 2018 Account Title Debit Credit Cash 23,000 32,000...

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Universal Company Adjusted Trial Balance December 31, 2018 Account Title Debit Credit Cash 23,000 32,000 6,000 4,000 185,000 Accounts Receivable Prepaid Rent Office Supplies Equipment Accumulated Depreciation- Equipment Accounts Payable Salaries Payable Unearned Revenue Common Stock Retained Earnings 34,000 20,000 5,000 6,000 90,000 30,000 5,000 Service Revenue 200,000 10,000 ent Revenue Advertising Expense Supplies Expense Salaries Expense Income Tax Expense Depreciation Expense- Equipment Rent Expense Total 27,000 10,000 78,000 5,000 8,000 12,000 $ 895,000 $ 395,000 Using the information from the adjusted trial balance, prepare the closing entries for Universal Company. (11 pts) CLOSING ENTRIES Date Accounts Debit Credit

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