Accounts receivable 37,100 Inventory 68,900 Equipment 350,860 Accumulated depreciation, equipment 159,000 Accounts payable 127,200 Bank loan...

  

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Accounts receivable 37,100 Inventory 68,900 Equipment 350,860 Accumulated depreciation, equipment 159,000 Accounts payable 127,200 Bank loan payable 74,200 Deferred revenue 23,320 Common shares 10,600 Retained earnings 74,200 Dividends declared 19,080 Sales revenue 517,280 Interest revenue 2,120 Cost of goods sold 334,960 Wages expense 74,200 Rent expense 27,560 Depreciation expense 45,580 Prepare the necessary closing entries for Paul's Electronics at September 30. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Sept. 30 Debit Credit Sept. 30 (To close accounts with a credit balance) Sept. 30 (To close accounts with a debit balance) Accounts receivable 37,100 Inventory 68,900 Equipment 350,860 Accumulated depreciation, equipment 159,000 Accounts payable 127,200 Bank loan payable 74,200 Deferred revenue 23,320 Common shares 10,600 Retained earnings 74,200 Dividends declared 19,080 Sales revenue 517,280 Interest revenue 2,120 Cost of goods sold 334,960 Wages expense 74,200 Rent expense 27,560 Depreciation expense 45,580 Prepare the necessary closing entries for Paul's Electronics at September 30. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Sept. 30 Debit Credit Sept. 30 (To close accounts with a credit balance) Sept. 30 (To close accounts with a debit balance)