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POST COMPANY ADJUSTED TRIAL BALANCE Debit Credit Cash 80,000 Accounts Receivable 12,000 Prepaid Insurance

2,000 Equipment 4,000 Accumulated Depreciation  100 Supplies 400 Accounts Payable 800 Wages Payable 200 Unearned Revenue 1,200 Contributed Capital 82,400 Retained Earnings 0 Sales 16,000 Gas Expense 200 Supply Expense 400 Insurance Expense 400 Depreciation Expense 100 Wage Expense 200 Dividends 1,000  100,700100,700

Explain the closing entry process AND prepare the closing entries in journal form based on the information 

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Closing entries are entries done at the end of an accounting period on temporary accounts to ensure that they have a zero... View the full answer

closing journal entries.jpg

Accounting 1- Answers . Microsoft Excel
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