Given the following adjusted trial balance, what will be the totals of the debit and credit columns of the post-closing trial balance?

	Debit	Credit
Money	$781
accounts receivable	1,049
Inventory	1,562
prepaid rent	43
Equipment	150
Accumulated Depreciation-Equipment		26
Accounts payable		41
Unearned service income		86
Common actions		103
Retained earnings		3,305
Service revenues		109
The return on an investment		28
Wage and salary expenses	80
Travel expenses	33
Total	$3,698	$3,698

Answer rating: 100% (QA)

To prepare the postclosing trial balance we need to exclude the temporary accounts revenue expense a... View the full answer