Exercise 4-08 a-c (Video) Concord Company ended its fiscal year on July 31, 2019. The company's adjusted trial balance as of the end of its fiscal year is shown below. Concord Company Adjusted Trial Balance July 31, 2019 No. Account Titles Debit Credit 101 Cash $10,400 112 Accounts Receivable 8,500 157 Equipment 15,500 158 Accumulated Depreciation-Equip. $7,000 201 Accounts Payable 4,200 208 Unearned Rent Revenue 2,200 311 Common Stock 20,700 320 Retained Earnings 26,000 332 Dividends 16,000 400 Service Revenue 63,500 Rent Revenue 6,300 711 Depreciation Expense 8,900 726 Salaries and Wages Expense 55,700 732 Utilities Expense 14,900 $129,900 $129,900 429 FULL SCREEN PRINTER VERSION CALCULATOR Prepare the closing entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit July 31 (To dose revenue accounts) July 31 (To dose expense accounts) July 31 (To close net income / (loss)) July 31 Post to the Retained Earnings and Income Summary accounts. (Post entries in the order of journal entries presented in the previous part. Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) Retained Earnings No. 320 Date Explanation Ref Debit Credit Balance July 31 J15 July 31 J15 July 31 J15 Income Summary No. 350 Date Explanation Ref Debit Credit Balance July 31 J15 July 31 JIS July 31 115 Prepare a post-closing trial balance at July 31. Concord Company Post-Closing Trial Balance Debit Credit Totals