Following is the adjusted trial balance, with accounts in alphabetical order, for TRN Magazine as at January 31, 2014:

Required
Prepare the closing entries.

Transcribed Image Text:

Debit Credit 21,000 Accounts receivable Accumulated depreciation, equipment Cash Depreciation expense, equipment Equipment Interest revenue Rent expense Salaries expense Subscription revenue Trish Norris, capital Trish Norris, withdrawals Unearned subscription revenue Totals 12,000 8,500 1,500 19,000 450 17,500 71,000 45,450 19,400 19,000 147,900 $147,900