Selected year-end account balances from the adjusted trial balance as of December 31, 2022, for Martinez...

 

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Selected year-end account balances from the adjusted trial balance as of December 31, 2022, for Martinez Corp. is provided below. Accounts Receivable Dividends Depreciation Expense Equipment Salaries and Wages Expense Accounts Payable Accumulated Depreciation-Equipment Unearned Rent Revenue Service Revenue Rent Revenue Rent Expense Retained Earnings Supplies Expense Debit $75,500 27,350 13,730 221,310 94,740 3,740 1,460 Credit $55,120 119,390 23,820 191,150 6,450 64,270 Prepare closing entries. (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 0 for the amounts) Selected year-end account balances from the adjusted trial balance as of December 31, 2022, for Martinez Corp. is provided below. Accounts Receivable Dividends Depreciation Expense Equipment Salaries and Wages Expense Accounts Payable Accumulated Depreciation-Equipment Unearned Rent Revenue Service Revenue Rent Revenue Rent Expense Retained Earnings Supplies Expense Debit $75,500 27,350 13,730 221,310 94,740 3,740 1,460 Credit $55,120 119,390 23,820 191,150 6,450 64,270 Prepare closing entries. (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 0 for the amounts)

Answer rating: 100% (QA)

Closing Journal Entries are as follows i Close Revenue Accounts to Income Summary Date December 31 ... View the full answer