The adjusted trial balance for Waterway Developments Ltd. as at March 31, 2024, was as follows:...

   

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The adjusted trial balance for Waterway Developments Ltd. as at March 31, 2024, was as follows: DR CR Cash $89,600 Accounts receivable 283,200 Prepaid insurance 8,000 Equipment 641,600 Accumulated depreciation-equipment $192,000 Accounts payable Deferred revenue 51,200 8,000 Salaries payable 17,600 Salaries expense 897,600 Utilities expense 14,400 Insurance expense 19,200 Income tax expense 67,200 (a) Prepare the closing entries at March 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) (To close expense accounts) The adjusted trial balance for Waterway Developments Ltd. as at March 31, 2024, was as follows: DR CR Cash $89,600 Accounts receivable 283,200 Prepaid insurance 8,000 Equipment 641,600 Accumulated depreciation-equipment $192,000 Accounts payable Deferred revenue 51,200 8,000 Salaries payable 17,600 Salaries expense 897,600 Utilities expense 14,400 Insurance expense 19,200 Income tax expense 67,200 (a) Prepare the closing entries at March 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) (To close expense accounts)

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The closing entries for Waterway Developments Ltd on March ... View the full answer