Question: Paloma Company shows the following balances in selected accounts of its adjusted trial balance. Prepare the remaining closing entries at December 31. Supplies $32,000 $32,000

Paloma Company shows the following balances in selected accounts of its adjusted trial balance. Supplies $32,000 $32,000 Service Revenue $108,000 Supplies Expense 6,000 Salaries and Wages

Prepare the remaining closing entries at December 31.

Supplies $32,000 $32,000 Service Revenue $108,000 Supplies Expense 6,000 Salaries and Wages Expense 40,000 Accounts Receivable 12,000 Utilities Expense 8,000 Dividends 22,000 Rent Expense 18,000 Retained Earnings 70,000

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