Brett Terc Enterprises had the following accounts and normal balances listed on its December 31st adjusted trial balance: Service Revenue, $24,500; Salaries Expense, $7,300; Rent Expense, $3,200; Advertising Expense, $2,300; and Dividends, $9,500. Journalize the closing entries for Terc Enterprises. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Start by closing revenues. Date Accounts and Explanation Debit Credit Dec. 31 Choose from any list or enter any number in the input fields and then click Check Answer. parts remaining Clear All Check Answer Data Table The adjusted trial balance of Smith Sign Company follows: (Click the icon to view the adjusted trial balance.) Requirements 1. Assume Smith Sign Company has a January 31 year-end. Journalize Smith's closing entries at January 31. 2. How much net income or net loss did Smith Sign Company earn for the year ended January 31? How can you tell? Smith Sign Company Adjusted Trial Balance January 31, 2018 Requirement 1. Assume Smith Sign Company has a January 31 year-end. Journalize Smith's closing entries at January 31. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) First, close revenues. Balance Date Accounts and Explanation Debit Credit Account Title Debit Credit Cash $ Jan. 31 15,100 1,900 1,200 62,000 $ 5,300 4,700 600 4,800 Office Supplies Prepaid Rent Equipment Accumulated DepreciationEquipment Accounts Payable Salaries Payable Unearned Revenue Notes Payable (long-term) Common Stock Dividends Service Revenue Salaries Expense Rent Expense Depreciation Expense-Equipment Supplies Expense 4,000 50,900 700 17,300 3,200 1,900 200 600 800 Utilities Expense 87,600 $ 87,600 Total Print Done Choose from any list or enter any number in the input fields and then click Check