Problem C The following trial balance and additional data are for Sure Sale Reality Company SURE SALE REALTY COMPANY Trial Balance 2010 December 31 Debits Credits Cash $ 62,800 Accounts Receivable 117,120 Prepaid Rent 46,080 Equipment 173,760 Accumulated Depreciation—Equipment $ 21,120 Accounts Payable 62,400 Capital Stock 96,000 Retained Earnings, 2010 January 1 49,920 Dividends 46,080 Commissions Revenue 653,200 Salaries Expense 321,600 Travel Expense 96,480 Miscellaneous Expense 18,720

$ 882,640 $ 882,640 The prepaid rent is for the period 2010 July 1, to 2011 June 30.

The equipment has an expected life of 10 years with no salvage value.

Accrued salaries are USD 11,520.

Travel expenses accrued but unreimbursed to sales staff at December 31 were USD 17,280

a. Prepare a 12-column work sheet for the year ended 2010 December 31. You need not include account numbers or explanations of adjustments.

b. Prepare adjusting journal entries.

c. Prepare closing journal entries.