Monty Company ended its fiscal year on July 31, 2019. The company's adjusted trial balance as...

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Monty Company ended its fiscal year on July 31, 2019. The company's adjusted trial balance as of the end of its fiscal year is shown below. Monty Company Adjusted Trial Balance July 31, 2019 Account Titles No. 101 Cash 112 Accounts Receivable 157 Equipment 158. Accumulated Depreciation-Equip. 201 Accounts Payable 208 311 Common Stock 320 Retained Earnings 332 Dividends 400 Service Revenue 429 Rent Revenue 711 Depreciation Expense 726 Salaries and Wages Expense 732 Utilities Expense Unearned Rent Revenue Debit $8,600 9,500 15,900 15,500 Credit $7,800 4,000 2,100 18,900 26,500 65,000 6,000 9,000 56,300 15,500 $130,300 $130,300 Prepare the closing entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Credit July 31 July 31 July 31 July 31 (To close revenue accounts) (To close expense accounts) (To close net income / (loss)) (To close dividends) Debit Post to the Retained Earnings and Income Summary accounts. (Post entries in the order of journal entries presented in the previous part. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Date Explanation July 31 July 31 July 31 Date Explanation July 31 July 31 July 31 Retained Earnings Ref J15 > 315 Income Summary Ref > J15 J15 315 315 Debit Debit Credit Credit No. 320 Balance No. 350 Balance Prepare a post-closing trial balance at July 31. Totals Monty Company Post-Closing Trial Balance Debit Click if you would like to Show Work for this question: Open Show Work Credit Monty Company ended its fiscal year on July 31, 2019. The company's adjusted trial balance as of the end of its fiscal year is shown below. Monty Company Adjusted Trial Balance July 31, 2019 Account Titles No. 101 Cash 112 Accounts Receivable 157 Equipment 158. Accumulated Depreciation-Equip. 201 Accounts Payable 208 311 Common Stock 320 Retained Earnings 332 Dividends 400 Service Revenue 429 Rent Revenue 711 Depreciation Expense 726 Salaries and Wages Expense 732 Utilities Expense Unearned Rent Revenue Debit $8,600 9,500 15,900 15,500 Credit $7,800 4,000 2,100 18,900 26,500 65,000 6,000 9,000 56,300 15,500 $130,300 $130,300 Prepare the closing entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Credit July 31 July 31 July 31 July 31 (To close revenue accounts) (To close expense accounts) (To close net income / (loss)) (To close dividends) Debit Post to the Retained Earnings and Income Summary accounts. (Post entries in the order of journal entries presented in the previous part. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Date Explanation July 31 July 31 July 31 Date Explanation July 31 July 31 July 31 Retained Earnings Ref J15 > 315 Income Summary Ref > J15 J15 315 315 Debit Debit Credit Credit No. 320 Balance No. 350 Balance Prepare a post-closing trial balance at July 31. Totals Monty Company Post-Closing Trial Balance Debit Click if you would like to Show Work for this question: Open Show Work Credit