Prepare the closing entries for Nicholas Company.

Assignment Assignment> Open Assignment Nicholas Company Adjusted Trial Balance May 31, 2016 Credit Debit Account Names Cash Petty Cash Fund Accounts Recelvable Merchandise Inventory, 5/1/16 Store Supplies $337,100 5,000 24,200 57,500 11,700 3,500 3,208 37,000 32,800 Office Supplies Prepaid Insurance Land Forklift Accumulated Depreciation, Forklift Delivery Truck $800 157,000 Accumulated Depreciation, Delivery Truck 1,500 62,600 1,800 13,000 122,900 401,750 Accounts Payable Salaries Payable Unearned Sales Revenue Notes Payable (Long-Term) Nicholas Ram, Capital Nicholas Ram, Drawings 4,500 Sales Revenue 259,600 Sales Discounts 624 All Rights Reserved. A Divis Help I System AnOUnceneng O Assignment Assignment > Open Assignment 4,800 133,000 Sales Returns and Allowances Purchases Purchases Discounts Purchases Returns and Allowances Freight-in Salaries Expense Utilities Expense Repair Supplies Expense Postage Expense Rent Expense Depreciation Expense, Delivery Truck Depreciation Expense, Forklift Office Supplies Expense Insurance Expense 3,524 7,200 1,800 33,400 8,200 960 390 16,000 750 800 1,200 292 150 3,300 Cash Short & Over Interest Expense 4,500 $879,174 $879,174 Interest Revenue Totals Ending Merchandise Inventory $62,000. Your answer is partially correct. Try again us.com/edugen/m/main.un (1 Unread) Assignment Assignment > Open Assignment Prepare the Closing Entries for Nicholas Company. (Credit account titles are automatically Indented when the amount is entered. De not indent manuaily. De not use dolar signa amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with commas) Account Titles and Explanation Date Debit 2016 May 31 2000-2019Johnylerasms.nc All Rights Reserved. A Division of Privacy Police 1 1 License Agreement Assignment Open (To close beginning inventory and other income statement accounts with debk baances) 31