Bailey and Wright, Inc. Adjusted Trial Balance December 31, 2011 GENERAL JOURNAL Page DATE DESCRIPTION POST L. REE. DEBIT CREDIT CREDIT DEBITI 114,900 54,200 10,800 9,600 140,000 Income Summary Account Name Cash Accounts Receivable Supplies Prepaid Advertising Equipment Accumulated Depreciation-Equip. Accounts Payable Unearned Revenue Salaries Payable Common Stock Retained Earnings Dividends Fees Earned Advertising Expense Depreciation Expense-Equip. Rent Expense Salaries Expense Supplies Expense Telecommunications Expense Totals 10,000 12,400 8,000 6,000 50,000 110,000 5,000 368,000 5,000 10,000 18,000 156,000 4,900 36,000 564,400 564,400 PR 4-1 PR 4-2 PR 4-3 PR 4-4 + PR 4-3 - Closing Entries - Bailey and Wright, Inc. After the accounts have been adjusted for the current fiscal year ended December 31, the following adjusted trial balance was prepared Instructions: Journalize the four entries required to close the accounts Bailey and Wright, Inc. Adjusted Trial Balance December 31, 2041 CREDIT DEBIT 114,900 54,200 10,800 9,600 140,000 Account Name Cash Accounts Receivable Supplies Prepaid Advertising Equipment Accumulated Depreciation-Equip. Accounts Payable Unearned Revenue Salaries Payable Common Stock Retained Earnings Dividends Fees Earned Advertising Expense Depreciation Expense-Equip. Rent Expense Salaries Expense Supplies Expense Telecommunications Expense Totals 10,000 12,400 8,000 6,000 50,000 110,000 5,000 368,000 5,000 10,000 18,000 156,000 4,900 36,000 564,400 564,400 Page DATE GENERAL JOURNAL DESCRIPTION POST. REF DEBIT CREDIT