Michael Rau founded Michael's Fishing Supplies on 1 July 2019. The adjusted trial balance at 30...

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Michael Rau founded Michael's Fishing Supplies on 1 July 2019. The adjusted trial balance at 30 June 2020 (the end of the financial year) is shown below. Michael's Fishing Supplies Adjusted trial balance as at 30 June 2020 Account Debit Credit Cash at bank $12,900 Accounts receivable 26,210 GST receivable 2,250 Fishing supplies 6,240 Prepaid insurance 3,120 Boat 37,440 Accumulated depreciation - boat $18,720 Accounts payable 6,240 Salaries payable 2,120 Interest payable 3,240 Mortgage payable 8,110 Unearned revenue 6,990 GST payable 3,740 Michael Rau, capital 18,720 Michael Rau, drawings 14,980 Salaries payable 2,120 Interest payable 3,240 Mortgage payable 8,110 Unearned revenue 6,990 GST payable 3,740 Michael Rau, capital 18,720 Michael Rau, drawings 14,980 Sales 63,080 Salaries expense 14,600 Insurance expense 1,120 Interest expense 620 Depreciation expense 4,370 Fishing supplies expense 2,120 Rent expense 4,990 $130,960 $130,960 Prepare closing entries to be made on 30 June 2020. (Enter debit entries first, followed by credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date 2020 Particulars June 30 30 (Close income accounts to profit or loss summary) (Close expense accounts to profit or loss summary) Debit Credit 30 30 30 30 (Close profit or loss summary to capital) (Close drawings to capital) Prepare a post-closing trial balance as at 30 June 2020. Account Michael's Fishing Supplies Post-closing trial balance as at 30 June 2020 Debit +A Credit Account Debit $ +A Credit $ Michael Rau founded Michael's Fishing Supplies on 1 July 2019. The adjusted trial balance at 30 June 2020 (the end of the financial year) is shown below. Michael's Fishing Supplies Adjusted trial balance as at 30 June 2020 Account Debit Credit Cash at bank $12,900 Accounts receivable 26,210 GST receivable 2,250 Fishing supplies 6,240 Prepaid insurance 3,120 Boat 37,440 Accumulated depreciation - boat $18,720 Accounts payable 6,240 Salaries payable 2,120 Interest payable 3,240 Mortgage payable 8,110 Unearned revenue 6,990 GST payable 3,740 Michael Rau, capital 18,720 Michael Rau, drawings 14,980 Salaries payable 2,120 Interest payable 3,240 Mortgage payable 8,110 Unearned revenue 6,990 GST payable 3,740 Michael Rau, capital 18,720 Michael Rau, drawings 14,980 Sales 63,080 Salaries expense 14,600 Insurance expense 1,120 Interest expense 620 Depreciation expense 4,370 Fishing supplies expense 2,120 Rent expense 4,990 $130,960 $130,960 Prepare closing entries to be made on 30 June 2020. (Enter debit entries first, followed by credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date 2020 Particulars June 30 30 (Close income accounts to profit or loss summary) (Close expense accounts to profit or loss summary) Debit Credit 30 30 30 30 (Close profit or loss summary to capital) (Close drawings to capital) Prepare a post-closing trial balance as at 30 June 2020. Account Michael's Fishing Supplies Post-closing trial balance as at 30 June 2020 Debit +A Credit Account Debit $ +A Credit $