Based on the adjusted trial balance below, which of the following journal entries is recorded correctly for closing revenues? Adjusted Trial Balance Green Neighbors Adjusted Trial Balance May 31, 20XX Accounts Cash Accounts Receivable Supplies Prepaid Insurance. Equipment Accumulated Depreciation Accounts Payable Unearned Revenue Salaries and Wages Payable Common Stock Service Revenue Salaries and Wages Expense Insurance Expense Supplies Expense Depreciation Expense Total Debit $8,700.00 $4,400.00 $200.00 $2,400.00 $15.000.00 $2.100.00 $600.00 $800.00 $250.00 $34,450.00 O DR Retained Eamings $7,700: CR Service Revenue $7,700 OOR: Service Revenue $7.700: CR Retained Earnings $7.700 O DR Service Revenue $7,700 CR Income Summary $7.700 O DR Income Summary $7.700 CR Service Revenue $7.700 Credit $250.00 $14.000.00 $400.00 $2.100.00 $10.000.00 $7.700.00 $34,450

Based on the adjusted trial balance below, which of the following journal entries is recorded correctly for closing revenues? Adjusted Trial Balance Green Neighbors Adjusted Trial Balance May 31, 20XX Accounts Cash Accounts Receivable Supplies Prepaid Insurance. Equipment Accumulated Depreciation Accounts Payable Unearned Revenue Salaries and Wages Payable Common Stock Service Revenue Salaries and Wages Expense Insurance Expense Supplies Expense Depreciation Expense Total Debit $8,700.00 $4,400.00 $200.00 $2,400.00 $15.000.00 $2.100.00 $600.00 $800.00 $250.00 $34,450.00 O DR Retained Eamings $7,700: CR Service Revenue $7,700 OOR: Service Revenue $7.700: CR Retained Earnings $7.700 O DR Service Revenue $7,700 CR Income Summary $7.700 O DR Income Summary $7.700 CR Service Revenue $7.700 Credit $250.00 $14.000.00 $400.00 $2.100.00 $10.000.00 $7.700.00 $34,450

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 4PA: Identify which type of adjustment is associated with this account, and what is the other account in...

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