Based on the Adjusted Trial Balance (see below) you will record journal entries for closing accounts for

You can write the journal entries for closing accounts on a blank piece of paper then transfer your answers HERE.

Be sure to use the correct spelling for the account name.

Do not add a dollar sign($) - Add a comma to the dollar amount.

No dates are required.

Required:

Record journal entry for step 1 of the closing process. BE SURE TO USE THE CORRECT ACCOUNT NAMES EXACTLY AS SHOWN IN THE ADJUSTED TRIAL BALANCE. DO NOT INCLUDE THE $ (DOLLAR) SIGN WHEN TYPING IN THE AMOUNT.

Step 1

Date	Account Tittle	Debit	Credit
	1.	2. $
	3.		4.$

2. Record journal entry for step 4 of the closing process.

Step 2

Date	Account Tittle	Debit	Credit
x	5	6
x	7		8$
x	9		10$
x	11		12$
x	13.		14$
x	15		16.$
X	17		18$

Step 3

Date	Account Tittle	Debit	Credit
	19.	20. $
	21.		22.$

Step 4

Date	Account Tittle	Debit	Credit
	23.	24. $
	25.		26.$

Gray Electronic Repair Services

Adjusted Trial Balance

Adjusted Trial Balance

December 31, 2021

Account Title Debit Credit

Cash $ 7,480.00

Accounts Receivable 3,700.00

Service Supplies 600.00

Furniture and Fixtures 3,000.00

Service Equipment 16,000.00

Accumulated Depreciation $ 720.00

Accounts Payable 9,000.00

Utilities Payable 1,800.00

Loans Payable 12,000.00

Mr. Gray, Capital 13,200.00

Mr. Gray, Drawing 7,000.00

Service Revenue 9,850.00

Rent Expense 1,500.00

Salaries Expense 3,500.00

Taxes and Licenses 370.00

Utilities Expense 1,800.00

Service Supplies Expense 900.00

Depreciation Expense 720.00

Totals $ 46,570.00 $ 46,570.00