calculate the closing enteries Bank 101 64,850.26 1,894.85 Accounts Receivable 105 37,681.95 154.58 62,955.41 37,527.37 Allowance for

calculate the closing enteries

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Bank 101 64,850.26 1,894.85 Accounts Receivable 105 37,681.95 154.58 62,955.41 37,527.37 Allowance for Doubtful Accounts 106 618.30 154.58 865.25 1,328.97 Merchandise Inventory 110 45,190.40 710.00 560.00 45,340.40 45,340.40 45,340.40 Supplies 115 16,671.80 1,200.00 15,471.80 Prepaid Insurance 120 Prepaid Rent 122 1,500.00 125.00 1,375.00 Office Furniture 135 102,596.00 102,596.00 Acc. Amort. - Furniture 136 27,150.00 943.08 28,093.08 Office Equipment 140 149,500.00 149,500.00 Acc. Amort. - Equipment 141 59,629.00 1,273.17 60,902.17 Delivery Truck 180 30,200.00 30,200.00 Acc. Amort. - Truck 181 19,066.67 122.22 19,188.89 Accounts Payable 201 22,028.40 22,028.40 HST Payable 205 17,772.60 17,772.60 HST Recoverable 206 4,815.60 42.60 4,858.20 Loan Payable 210 38,450.00 38,450.00 Mortgage Payable 215 190,000.00 190,000.00 J. Boulton, Capital 301 57,135.03 57,135.03 J. Boulton, Drawings 305 3,260.40 3,260.40 Sales Revenue 401 45,100.00 45,100.00 Sales Returns 402 1,010.00 Sales Discounts 403 827.64 1,010.00 827.64 Cost of Goods Sold 501 17,328.40 17,328.40 Advertising Expense 601 518.40 518.40 Bad Debt Expense 605 865.25 865.25 Car Expense 610 Amort. Expense - Furniture 615 943.08 943.08 Amort. Expense - Equipment 616 5.23 1,273.17 1,278.40 Amort. Expense - Truck 621 122.22 122.22 Freight-out 625 770.00 770.00 Loss on Sale of Assets 645 123.92 123.92 Maintenance Expense 650 Miscellaneous Expense 655 Utilities Expense 680 100.00 100.00 476,950.00 476,950.00 Interest Expense 635 1,142.25 1,142.25 Supplies Expense 675 1,200.00 1,200.00 Rent Expense 670 Inventory Shortage 640 125.00 560.00 125.00 560.00 7,138.15 7,138.15 Net Income 72,254.96 18,185.44 90,440.40 90,440.40 453,084.58 90,440.40 453,084.58 434,899.14 18,185.44 453,084.58 Bank 101 64,850.26 1,894.85 Accounts Receivable 105 37,681.95 154.58 62,955.41 37,527.37 Allowance for Doubtful Accounts 106 618.30 154.58 865.25 1,328.97 Merchandise Inventory 110 45,190.40 710.00 560.00 45,340.40 45,340.40 45,340.40 Supplies 115 16,671.80 1,200.00 15,471.80 Prepaid Insurance 120 Prepaid Rent 122 1,500.00 125.00 1,375.00 Office Furniture 135 102,596.00 102,596.00 Acc. Amort. - Furniture 136 27,150.00 943.08 28,093.08 Office Equipment 140 149,500.00 149,500.00 Acc. Amort. - Equipment 141 59,629.00 1,273.17 60,902.17 Delivery Truck 180 30,200.00 30,200.00 Acc. Amort. - Truck 181 19,066.67 122.22 19,188.89 Accounts Payable 201 22,028.40 22,028.40 HST Payable 205 17,772.60 17,772.60 HST Recoverable 206 4,815.60 42.60 4,858.20 Loan Payable 210 38,450.00 38,450.00 Mortgage Payable 215 190,000.00 190,000.00 J. Boulton, Capital 301 57,135.03 57,135.03 J. Boulton, Drawings 305 3,260.40 3,260.40 Sales Revenue 401 45,100.00 45,100.00 Sales Returns 402 1,010.00 Sales Discounts 403 827.64 1,010.00 827.64 Cost of Goods Sold 501 17,328.40 17,328.40 Advertising Expense 601 518.40 518.40 Bad Debt Expense 605 865.25 865.25 Car Expense 610 Amort. Expense - Furniture 615 943.08 943.08 Amort. Expense - Equipment 616 5.23 1,273.17 1,278.40 Amort. Expense - Truck 621 122.22 122.22 Freight-out 625 770.00 770.00 Loss on Sale of Assets 645 123.92 123.92 Maintenance Expense 650 Miscellaneous Expense 655 Utilities Expense 680 100.00 100.00 476,950.00 476,950.00 Interest Expense 635 1,142.25 1,142.25 Supplies Expense 675 1,200.00 1,200.00 Rent Expense 670 Inventory Shortage 640 125.00 560.00 125.00 560.00 7,138.15 7,138.15 Net Income 72,254.96 18,185.44 90,440.40 90,440.40 453,084.58 90,440.40 453,084.58 434,899.14 18,185.44 453,084.58