The adjusted trial balance of Richardson Electric at May 31, 2020 is as follows: Richardson Electric...
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The adjusted trial balance of Richardson Electric at May 31, 2020 is as follows: Richardson Electric Trial Balance May 31, 2020 Debit Credit Cash $6,000 2,000 18,000 Prepaid insurance Equipment Accumulated depreciation, equipment Salaries payable Mitch Richardson, capital Mitch Richardson, withdrawals S20,000 1,000 12,700 6,000 Repair fees earned Unearned repair fees Insurance expense 11,800 1,200 Depreciation expense Total 3,500 11,200 $46,700 $46,700 Prepare the necessary closing entries at May 31. The adjusted trial balance of Richardson Electric at May 31, 2020 is as follows: Richardson Electric Trial Balance May 31, 2020 Debit Credit Cash $6,000 2,000 18,000 Prepaid insurance Equipment Accumulated depreciation, equipment Salaries payable Mitch Richardson, capital Mitch Richardson, withdrawals S20,000 1,000 12,700 6,000 Repair fees earned Unearned repair fees Insurance expense 11,800 1,200 Depreciation expense Total 3,500 11,200 $46,700 $46,700 Prepare the necessary closing entries at May 31.
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ACCOUNT TITLES DEBIT CREDIT 1 Closure of Revenue Accounts Service Revenue 118... View the full answer
Related Book For
Horngrens Financial and Managerial Accounting The Financial Chapters
ISBN: 978-0134486857
6th edition
Authors: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
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