Discount Office Systems Adjusted Trial Balance March 31, 2018 h Balance Account Title Debit Credit Cash $ 2.300 Accounts Receivable 13.700 31 400 7.000 42,3010 Merchandise Inventory Office Supplies Equipment Accumulated Depreciation Equipment Accounts Payable Salaries Payable 5 14.100 9600 1.200 42,300 CA 14.100 9,600 1.200 Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries Payable Notes Payable, long-term Moray, Capital Moray, Withdrawals Sales Revenue 8.200 21.950 43.000 233 000 Cost of Goods Sold 104 850 26.600 Selling Expense Administrative Expense 14.600 Interest Expense 2 300 288.050 S Total 288.050 Trinit Requirement 2. The following T-accounts have been set up Income Summary: Moray, Capital and Moray. Withdrawals Post the closing entries to the T-accounts, and calculate their ending balances Use "Clos. and the corresponding number shown in the journal entry as posting references-"Clos (1)"Clos(2)", etc The adjusted balance of each account has been entered for you. For any accounts with a zero balance after closing enter a "0" on the normal side of the account. For Income Summary, calculate and enter the balance (Bal) before posting the entry to close out the account. Post the entry to close Income Summary account on the line after the balance prior to closing the third line) and then show the post-closing balance ("Bal") on the last (fourth) line of the account. Review the closing journal entries. You prepared above Moray. Withdrawals Moray, Capital Income Summary A Adi Bal 43.000 21.950 Adi Bal 43000 Clos (4) Clos (4) 43000 Bal Bal Choose from any list or enter any number in the input fields and then click Check