Adjustments & Adj. Tri Balance each have 17 rows in the first problem. The rest have an additonal 2 at the bottom which the first one is labeled Net Income/Loss and the second Total.

The trial balance of Sarasota Fashion Center contained the following accounts at November 30, 2022, the end of the company's fiscal year. SARASOTA FASHION CENTER Trial Balance November 30, 2022 Debit Credit Cash $ 21,700 Accounts Receivable 28,000 Inventory 89.100 Unearned Sales Revenue $ 20,000 22,400 Accounts Payable Owner's Capital Owner's Drawings 88,000 10,000 Sales Revenue 755,800 Sales Returns and Allowances 8.900 Cost of Goods Sold 497,000 24,300 Advertising Expense Salaries and Wages Expense 139.700 Freight-out 16,400 33,500 Rent Expense Utilities Expense Interest Expense 13.900 3,700 Totals $886,200 $886,200 Adjustment data: 1. Customers used gift cards to purchase merchandise totaling $9,000. Inventory actually on hand is $88,400 2 Trial Balance Adjustments Account Titles Dr. Cr. Dr. . Cr. Cash $21.700 Accounts Receivable 28,000 Inventory 89.100 Unearned Sales Revenue $20,000 22,400 1 Accounts Payable Owner's Capital 88,000 Owner's Drawings 10,000 755,800 Sales Revenue Adj. Trial Balance Income Statement Dr. Cr. Dr. Cr. $ $ $ $ Balance Sheet Dr. Cr. $ $ Sales Returns and Allowances 8.900 Cost of Goods Sold 497,000 Advertising Expense 24,300 Salaries and Wages Expense 139,700 Freight-Out 16,400 Rent Expense 33,500 Utilities Expense 13,900 Interest Expense 3.700 Totals $886,200 $886,200 $ Net Income/Loss $ 2 $ 4A A A $ tA SARASOTA FASHION CENTER Income Statement > A Journalize the adjusting entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit Nov. 30 (To adjust Sales revenue) Nov. 30 (To adjust Inventory) Journalize the closing entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Nov. 30 (To close accounts with credit balances) Nov. 30 (To close accounts with debit balances) Nov. 30 (To close net income / (loss)) Nov. 30 (To close drawings)