Use the following Adjusted Trial Balance to prepare the four journal entries required to close the books:

Transcribed Image Text:

Adjusted Trial Balance Debit $ 22,900 4,000 44,000 Cash Prepaid Insurance Fixed Assets Notes Payable Common Stock Retained Earnings Dividends Sales Revenue Automobile Expense Insurance Expense Salaries Expense Supplies Expense 22,000 26,500 20,000 122,500 1,450 $263,350 Credit $ 40,000 25,000 48,350 150,000 $263,350