1. journalize the closing entry

2. prepare a post-closing trial balance

LUS Help RCES TRIAL BALANCE NOVEMBER 30, 2017 Debit $33,060 36,940 48,240 Credit Cash Accounts Receivable udy Inventory 8,740 139,480 Supplies Equipment $26,240 54,240 51,740 93,240 11,240 764,800 Accumulated Depreciation-Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Sales Revenue Sales Returns and Allowances Cost of Goods Sold Salaries and Wages Expense Advertising Expense Utilities Expenses Maintenance and Repairs Expense Delivery Expense Rent Expense Totals 4,200 495,400 138,680 27,520 15,320 12,100 16,700 25,120 $1,001,500 $1,001,500 Adjustment data: 1. Supplies on hand totaled $4,740. 2. Depreciation is $16,680 on the equipment. 3. Interest of $11,810 is accrued on notes payable at November 30 Other data: 1. Salaries expense is 70% selling and 30% administrative. 2. Rent expense and utilities expenses are 80% selling and 20% administrative. 3. $30,000 of notes payable are due for payment next year. 4. Maintenance and repairs expense is 100% administrative. Journalize the adjusting entries. (Gredit account titles are automatically indented when amount is en enter 0 for the amounts. Record journal entries in the order presented in the problem.) No. Date Account Titles and Explanation 1. Nov. 30 Sup Debit Credit e to search No. Date Account Titles and Explanation 1. Nov. 30 sales for the amounts Credit Debit 764800 764800 Income Summary To close accounts with credt balances.) 2. Nov. 30 Sales Returns and Allowances Cost of Goods Sold Salaries and Wages Expense Expense Utilties Expenses Maintenance and Repairs Expense Delivery Expense Rent Expense Supplies Expenses Depreciation Expense Insurance Expense (To dose accounts with debit balances.) 3. Nov. 30 Retained Earnings Income Summary (To dose net income/ (loss).) Prepare a post-closing trial balance. RIVERBE D F ASHON CE N TE R Post-Closing Trial Balance November 30, 2017 Credit Debit Cash Accounts Receivable Supplies Notes Payable interest Payable here to search