Ly Test 4 ~ Lyryx Learning Inc - Google Chrome X lifa1.lyryx.com/quiz-servlets/QuizServlet?ccid=11218 Question 5 [15 points] Following is the adjusted trial balance, with accounts listed in alphabetical order for SouthCo at October 31, 2014. Use this information to prepare the closing entries. Use the numbers below as the description for the corresponding closing entry. 1. Close all temporary credit balance accounts to the income summary account. 2. Close all temporary debit balance accounts to the income summary account. 3. Close the income summary (net income) to capital. 4. Close the income summary (net loss) to capital. 5. Close withdrawals to capital. Enter the dates in the format dd/mmm (ie. 15/Jan). SouthCo General Journal Page GJ8 Adjusted Trial Balance Date Account/Explanation Debit Credit October 31, 2014 Debit Credit + - Accounts payable. 8.060 Accounts receivable. 8,650 Accumulated depreciation, furniture 3,920 + - Capital 13,780 Cash 1,950 Commissions earned. 13,460 + - Depreciation expense, furniture. 940 Furniture.. 31,440 Insurance expense. 2, 190 + - Interest earned. 2,330 Sales. 6,460 Withdrawals. 2,840 Totals 48,010 48,010 Time Remaining: 89:03 SUBMIT AND MARK Type here to search O 09:03 -5"C Partly sunny ^ ( @ D ( () ENG 29-11-2021