Ewing Trailer Rental rents small trailers by the day for local jobs such as moving. Its adjusted trial balance at the end of the current fiscal year follows. 1,384 1,944 238 720 24,000 Ewing Trailer Rental Adjusted Trial Balance June 30, 2014 Cash (111) Accounts Receivable (113) Supplies (114) Prepaid Insurance (115) Trailers (116) Accumulated Depreciation - Trailers (117) Account Payable (211) Wages Payable (212) A. Payne, Capital (311) A. Payne, Withdrawals (313) Trailer Rental Revenue (411) Wages Expense (510) Insurance Expense (511) Supplies Expense (512) Depreciation Expense - Trailers (513) Other Expense (514) 14,400 582 400 11,388 14,400 91,092 46,800 1,440 532 4,800 26,800 117,822 117,822 REQUIRED: 1) From the above information, record the closing entries. 2) What if closing entries were not prepared at the end of the accounting period, what problems would result in the next accounting period? General Journal Page Date Description Post Ref. Debit Credit