The following adjusted trial balance is for Jasper Appliance Repair Company:

Required Prepare the closing journal entries at the end of the fiscal year, June 30, 1999 .

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JASPER APPLIANCE REPAIR COMPANY Adjusted Trial Balance June 30, 1999 Debits Credits Cash. $ 63,000 Accounts Receivable. Trucks Accumulated Depreciation-Trucks Accounts Payable Notes Payable 4 42,000 110,000 $ 30,000 10,800 20,000 Capital Stock 50,000 + Retained Earnings, July 1, 1998 5,500 Dividends 10,000 Service Revenue 230,000 Rent Expense 12,000 Advertising Expensc. 5,000 Salaries Expense 90,000 Supplies Expense 1,500 Insurance Expense 1,200 Depreciation Expense-Trucks 10,000 Interest Expense 1,000 Miscellaneous Expense 600 $346,300 $346,300