Question: Can someone please help me with these two questions? Given the following adjusted trial balance: Debit Credit Cash $931 Accounts receivable 1175 1749 48 170


Given the following adjusted trial balance: Debit Credit Cash $931 Accounts receivable 1175 1749 48 170 Inventory Prepaid rent Equipment Accumulated depreciation-equipment Accounts payable Unearned service revenue $29 46 68 Common stock 120 Retained earnings 3700 Service revenue 206 Interest revenue 31 Salaries and wages expense 90 Travel expense 37 Total $4200 $4200 After closing entries have been posted, the balance in retained earnings will be: Common stock 3700 206 31 Retained earnings Service revenue Interest revenue Salaries and wages expense Travel expense Total 90 37 $4200 $4200 After closing entries have been posted, the balance in retained earnings will be: $3896. O $3810 O $3712 $3604. The following information is from the Income Statement of the Marigold Laundry Service: $5070 Revenues Service Revenues Expenses Salaries and wages expense $ 1910 Advertising expense 390 Rent expense 230 Supplies expense Insurance expense 80 Total expenses Net income 160 2770 $2300 The entry to close Income Summary includes a: credit to Common Stock for $2300 credit to Income Summary for $2300. debit to Income Summary for $2300. O debit to Retained Earnings for $2300
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