The adjusted trial balance for Lloyd Construction as of December 31, 2014, follows: An analysis of other
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An analysis of other information reveals that Lloyd Construction is required to make a $45,000 payment on the long-term notes payable during 2015. The notes receivable are due May 1, 2016. Also, Sig Lloyd invested $75,000 cash early in 2014.
Required
Prepare the closing entries made at the end of the year.
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Related Book For
Fundamental Accounting Principles
ISBN: 978-0071051507
Volume I, 14th Canadian Edition
Authors: Larson Kermit, Tilly Jensen
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