Journalize and post closing entries and complete the closing process. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. For accounts that have zero ending balance, the entry should be the balance date and zero for the amount.) Debit Credit Date Account Titles and Explanation Mar. 31 (To close revenue account) Mar. 31 (To close expense accounts) Mar. 31 (To close net income to retained earnings) Mar. 31 Mar. 31 (To close dividends to retained earnings) 3/1 3/1 3/21 9,100 1,800 2,700 570 Cash 17,100 3/1 6,600 3/2 1,820 3/3 3/18 3/20 3/31 3/31 7,920 Accounts Receivable 4,220 3/21 4,790 2,000 400 1,030 3/31 Bal. 1,820 3/14 3/28 3/31 3/31 Bal. 230 1,960 3/6 3/31 Bal. 600 3/2 3/31 Bal. 7,420 Supplies 2,280 3/31 320 Prepaid Rent 1,800 3/31 1,200 Prepaid Insurance 2,700 3/31 2,250 Equipment 9,100 9,100 450 3/3 3/31 Bal. 3/1 3/31 Bal. 3/31 Bal. 290 290 6,600 6,600 3/18 2,280 1,710 9,100 Accumulated Depreciation-Equipment 3/31 3/31 Bal. Notes Payable 3/1 3/31 Bal. Accounts Payable 570 3/6 3/31 Bal. Salaries and Wages Payable 3/31 3/31 Bal. Interest Payable 3/31 3/31 Bal. Common Stock 3/1 3/31 Bal. Retained Earnings 1,230 1,230 33 33 17,100 17,100 Dividends 3/31 1,030 Income Summary Income Summary Service Revenue 3/14 4,220 Insurance Expense 450 Interest Expense 33 Total Expenses 6963 2277 Net Income / (Loss) Prepare an adjusted trial balance. FLINT CLEANERS Trial Balance March 31, 2022 Debit Credit Cash 7920 Accounts Receivable 7420 > Supplies 320 5 Prepaid Rent 1200 > Prepaid Insurance 2250 Equipment 9100 Accumulated Depreciation Equipment 290 Notes Payable 6600 Accounts Payable 1710 Salaries and Wages Payable 1230 Interest Payable 33 Common Stock 17100 Dividends 1030 > Service Revenue 9240 9240 Service Revenue > 400 Maintenance and Repairs Expense 1960 Supplies Expense 290 Depreciation Expense 450 Insurance Expense 3230 Salaries and Wages Expense 600 Rent Expense Interest Expense 33 36203 36203 Totals Post adjusting entries to the 1-accounts. 3/1 3/1 3/21 Cash 17,100 3/1 6,600 3/2 1,820 3/3 3/18 3/20 3/31 3/31 7,920 Accounts Receivable 4,220 3/21 9,100 1,800 2,700 570 2,000 400 1,030 3/31 Bal. 3/14 1,820 3/28 4,790 > S 3/31 230 > 3/31 Bal. 7420 Supplies 3/6 2,2803/31 1960 3/31 Bal. 320 Prepaid Rent 3/2 1,8003/31 600 3/31 Bal. 1200 Prepaid Insurance 3/3 2,700|3/31 450 3/31 Bal. 2250 3/31 Bal. 2250 3/1 3/31 Bal. Equipment 9,100 9,100 Accumulated Depreciation Equipment 3/31 290 3/31 Bal. 290 6,600 6,600 Notes Payable 3/1 3/31 Bal. Accounts Payable 570 3/6 3/31 Bal. Salaries and Wages Payable 3/18 2,280 1,710 3/31 1230 3/31 Bal 1230 Interest Payable 3/31 33 33 3/31 Bal. Common Stock 3/1 3/31 Bal. Dividends 17,100 17,100 3/31 1,030 Service Revenue Service Revenue 3/14 4,220 3/28 4,790 JOIT 3/31 230 3/31 Bal. 9240 Maintenance and Repairs Expense 3/31 400 Supplies Expense 3/31 1960 || Depreciation Expense 3/31 290 Insurance Expense 3/31 450 Salaries and Wages Expense 3/20 2,000 I s dit doo 3/31 1230 3/31 Bal. 3230 Rent Expense 3/31 600 Interest Expense 33 3/31 Lars Linken opened Flint Cleaners on March 1, 2022. During March, the following transactions were completed. 1 Mar. Issued 11,400 shares of common stock for $17,100 cash. 1 Borrowed $6,600 cash by signing a 6-month, 6%, $6,600 note payable. Interest will be paid the first day of each subsequent month. 1 Purchased used truck for $9,100 cash. 2 Paid $1,800 cash to cover rent from March 1 through May 31. 3 Paid $2,700 cash on a 6-month insurance policy effective March 1. 6 Purchased cleaning supplies for $2,280 on account. 14 Billed customers $4,220 for cleaning services performed. 18 Pald $570 on amount owed on cleaning supplies. 20 Paid $2,000 cash for employee salaries. 21 Collected $1,820 cash from customers billed on March 14. 28 Billed customers $4,790 for cleaning services performed. 31 Paid $400 for gas and oil used in truck during month (use Maintenance and Repairs Expense). 31 Declared and paid a $1,030 cash dividend. The chart of accounts for Flint Cleaners contains the following accounts: Cash, Accounts Receivable, Supplies, Prepaid Insurance, Prepaid Rent, Equipment, Accumulated Depreciation-Equipment, Accounts Payable, Salaries and Wages Payable, Notes Payable, Interest Payable, Common Stock, Retained Earnings, Dividends, Income Summary, Service Revenue, Maintenance and Repairs Expense, Supplies Expense, Depreciation Expense, Insurance Expense, Salaries and Wages Expense, Rent Expense, and Interest Expense. (a) Your answer is correct. Journalize the March transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Credit Debit Account Titles and Explanation 17100 Mar. 17 Cash