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The following adjusted trial balance at December 31 of Wilson Trucking Company. Account Title Cash Accounts receivable office supplies Trucks Accumulated depreciation Trucks Land
The following adjusted trial balance at December 31 of Wilson Trucking Company. Account Title Cash Accounts receivable office supplies Trucks Accumulated depreciation Trucks Land Accounts payable Debit $ 8,000 17,500 Credit 3,000 172,000 $ 36,000 85,000 12,000 Interest payable 4,000 Long-term notes payable 58,000 Common stock 30,000 Retained earnings 140,000 Dividends 20,000 Trucking revenue 130,000. Depreciation expense-Trucks 23,500 Salaries expense 61,000 office supplies expense.. 8,000 Interest expense Totals 12,000 $410,000 $410,000 Prepare the closing entries for the year ended December 31. The Retained Earnings account balance was $140,000 at December 31 of the prior year. No Date 1 December 31 Trucks Trucking revenue 2 December 31 Accounts payable Income summary Answer is not complet. General Journal 3 December 31 Income summary Retained earnings 4 December 311 Retained earnings Dividends 0 0 00 Debit 130,000 Credit 130,000 103,500 103,500 26,500 C 26,500 ( 20,000 20,000
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