Plevin Company ended its fiscal year on July 31, 2020. The company's adjusted trial balance as of the end of its fiscal year is shown as follows.

Instructions

a. Prepare the closing entries using page J15.

b. Post to the Retained Earnings and No. 350 Income Summary accounts. (Use the three-column form.)

c. Prepare a post-closing trial balance at July 31.

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Plevin Company Adjusted Trial Balance July 31, 2020 Account Titles No. Debit Credit $ 9,840 101 Cash 112 Accounts Receivable 8,780 157 Equipment 158 Accumulated Depreciation-Equip. 15,900 $ 7,400 201 Accounts Payable 4,220 208 Unearned Rent Revenue 1,800 311 Common Stock 20,000 320 Retained Earnings 25,200 332 Dividends 16,000 400 Service Revenue 64,000 429 Rent Revenue 6,500 711 Depreciation Expense 726 Salaries and Wages Expense 8,000 55,700 732 Utilities Expense 14,900 $129,120 $129,120