The adjusted trial balance of Ivanhoe Fashion Retailers Inc. appears below. IVANHOE FASHION RETAILERS INC. Adjusted...

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The adjusted trial balance of Ivanhoe Fashion Retailers Inc. appears below. IVANHOE FASHION RETAILERS INC. Adjusted Trial Balance December 31, 2025 Cash Accounts Receivable Inventory Prepaid Insurance. Equipment Accumulated Depreciation-Equipment Notes Payable Accounts Payable Salaries and Wages Payable Property Taxes Payable Common Stock Retained Earnings Debit $6,400 5,300 79,400 1,400 103,000 Credit $14.100 10,500 11,700 4,000 1.400 13,300 60.000 Property Taxes Payable Common Stock Retained Earnings Dividends Sales Revenue 43 COGS A Depreciation Expense Salaries and Wages Expense (selling 25,100/general 10,200) Insurance Expense Advertising Expense Telephone and Internet Expense Property Tax Expense 42,300 227,600 3,000 35,300 - 900 1,200 600 3,900 $510,300 1,400 13,300 60,000 395,300 $510,300 -/10 E Using the information from the adjusted trial balance prepare the closing entries for the year ending December 31st, 2025. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) **** Using the information from the adjusted trial balance prepare the closing entries for the year ending December 31st, 2025. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Account Titles and Explanation (To close revenue to Income Summary) Debit Credit 2007 11 (To close expenses to Income Summary) (To close Income Summary to Retained Earnings) (To close Dividends to Retained Earnings) Save for Later -/10 E Attempts: 0 of 1 used Submit Answer *** C M o Mu QU Mul The adjusted trial balance of Ivanhoe Fashion Retailers Inc. appears below. IVANHOE FASHION RETAILERS INC. Adjusted Trial Balance December 31, 2025 Cash Accounts Receivable Inventory Prepaid Insurance. Equipment Accumulated Depreciation-Equipment Notes Payable Accounts Payable Salaries and Wages Payable Property Taxes Payable Common Stock Retained Earnings Debit $6,400 5,300 79,400 1,400 103,000 Credit $14.100 10,500 11,700 4,000 1.400 13,300 60.000 Property Taxes Payable Common Stock Retained Earnings Dividends Sales Revenue 43 COGS A Depreciation Expense Salaries and Wages Expense (selling 25,100/general 10,200) Insurance Expense Advertising Expense Telephone and Internet Expense Property Tax Expense 42,300 227,600 3,000 35,300 - 900 1,200 600 3,900 $510,300 1,400 13,300 60,000 395,300 $510,300 -/10 E Using the information from the adjusted trial balance prepare the closing entries for the year ending December 31st, 2025. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) **** Using the information from the adjusted trial balance prepare the closing entries for the year ending December 31st, 2025. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Account Titles and Explanation (To close revenue to Income Summary) Debit Credit 2007 11 (To close expenses to Income Summary) (To close Income Summary to Retained Earnings) (To close Dividends to Retained Earnings) Save for Later -/10 E Attempts: 0 of 1 used Submit Answer *** C M o Mu QU Mul

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Account Titles and Explanation Debit Credit Income Summary 167700 Sales Reve... View the full answer