Adjusted Trial Balance Debit Credit Dividends $24,000 Sales Revenue $194,000 Automobile Expense Insurance Expense Salaries Expense Supplies Expense 15,500 30,000 96,000 6,500

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Use the following excerpts from the year-end Adjusted Trial Balance to prepare the four journal entries required to close the books:

Adjusted Trial Balance
Debit
Credit
Dividends
$24,000
Sales Revenue
$194,000
Automobile Expense
Insurance Expense
Salaries Expense
Supplies Expense
15,500
30,000
96,000
6,500
Transcribed Image Text:Adjusted Trial Balance Debit Credit Dividends $24,000 Sales Revenue $194,000 Automobile Expense Insurance Expense Salaries Expense Supplies Expense 15,500 30,000 96,000 6,500
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