Debit Cash Other current In a recent annual report, Hewlett-Packard Company states. "We are a leading global provider of products, technologies, software solutions and services to individual consumers, smal and medium-sed businesses ("SMBs") and large enterprises, including customers in the government, health and education sectors is offerings span personal computing and other access drivers, Imaging and printing related products and services, enterprise Information technology infrastructure, and multi-vendor customer services. Following is a trial balance listing accounts that Hewlett Packard uses. Assume that the balances are unadjusted at the end of a recent fiscal year ended October 31 HEWLETT-PACKARD COMPANY Unadjusted Trial Balance (dollars in millions) For the year ended October 31 Credit 8,000 Accounts receivable 21,400 Inventory 7.500 14,100 Property, plant and equipment 25.500 Accumulated depreciation 13,200 Other assets 66.200 Short-term note payable 8,100 Accounts payable 14,800 Accrued Babies 19,100 Deferred revenue 7400 -term debit 22.600 Other abilities Common stock 200 Additional paid-in capita 7 000 Retained earnings 24.700 Product revenue 84,800 Service revenue 42,000 Interest revenue Cost of products 65.200 Cost of services 32.100 Interest expense 1,000 Research and development expense 3,300 Seling, general, and administrative expense 13.500 Other expenses Income tax expense 1.900 Total 2017800 262 800 1.000 income tax payable 17.500 2.100 OLSEVI Interest expense Research and development expense Selling, general, and administrative expense Other expenses Income tax expense Total 1,000 3,300 13,500 3,100 1,900 262,800 262,800 Required: 2. Which accounts should be closed at the end of the year? (Select all that apply) Product revenue Service revenue E Interest revenue Cost of products Cost of services 2 Interest expense Research and development expense Selling, general, and administrative expense Other expenses Income tax expense 2 Cash Inventory 2 Common stock Property, plant, and equipment References eBook & Resources Worksheet Learning Objective: 04-01 Explain the purpose of adiustments and analyze the