E4-20 (similar to) The adjusted trial balance of Sullivan Sign Company follows: B (Click the icon to view the adjusted trial balance.) Requirements 1. Assume Sullivan Sign Company has a January 31 year-end. Journalize Sullivan's closing entries at January 31. 2. How much net income or net loss did Sullivan earn for the year ended January 31? How can you tell? Requirement 1. Assume Sullivan Sign Company has a January 31 year-end. Journalize Sullivan's closing entries at January 31. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) First, we will close the Service Revenue account. * Data Table x Date Accounts and Explanation Debit Credit Jan. 31 Credit 5,300 3,900 Sullivan Sign Company Adjusted Trial Balance January 31, 2016 Balance Account Title Debit Cash $ 13,900 Office Supplies 1,700 Prepaid Rent 900 Equipment 53,000 Accumulated Depreciation Equipment $ Accounts Payable Salaries Payable Unearned Revenue Notes Payable (long-term) Sullivan, Capital Sullivan, Withdrawals 1,200 Service Revenue Salaries Expense 4,300 Rent Expense 1,700 Depreciation Expense-Equipment 200 Supplies Expense 400 Utilities Expense 500 Total $ 77,800 $ 100 3,700 4,700 42,700 17,400 77,800 Print Done Choose from any list or enter any number in the input fields and then click Check Answer. 4 parts 4 remaining Clear All