Following is the adjusted trial balance, with accounts in alphabetical order, for TRN Magazine as at January

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31, 2023

Debit Credit

Accounts receivable $

21, 400

Accumulated depreciation, equipment $

12, 400

Cash

8, 900

Depreciation expense, equipment

1, 700

Equipment

19, 400

Interest income

490

Rent expense

17, 900

Salaries expense

61, 400

Subscription revenues

71, 400

Trish Norris, capital

46, 810

Trish Norris, withdrawals

19, 800

Unearned subscription revenue

19, 400

Totals $

150, 500

150, 500

Required:

Prepare the closing entries.

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Fundamental Accounting Principles

ISBN: 978-0071051507

Volume I, 14th Canadian Edition

Authors: Larson Kermit, Tilly Jensen

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Posted Date: May 11, 2024 10:47 AM

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Following is the adjusted trial balance, with accounts in alphabetical order, for TRN Magazine as at January

Question:

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Closing Entries for TRN Magazine Based on the adjusted trial balance provided here are the closing entries for TRN Magazine as of January 31 2023 1 Cl... View the full answer

Fundamental Accounting Principles

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