Exercise 4-08 a-c (Video) Monty 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. No. Credit 101 Debit $8,500 9,400 16,100 112 157 158 201 208 Monty Company Adjusted Trial Balance July 31, 2019 Account Titles Cash Accounts Receivable Equipment Accumulated Depreciation-Equip. Accounts Payable Unearned Rent Revenue Common Stock Retained Earnings Dividends Service Revenue Rent Revenue Depreciation Expense Salaries and Wages Expense Utilities Expense $7,800 4,500 1,600 19,700 25,300 311 320 332 15,800 400 63,700 6,900 429 711 8,300 56,400 726 732 15,000 $129,500 $129,500 Prepare the closing entries. (Credit account titles are automatically indented when amount is en Debit Credit Date Account Titles and Explanation July 31 (To close revenue accounts) July 31 (To close expense accounts) July 31 (TO net income / (loss)) July 31 (To close dividends) Post to the Retained Earnings and Income Summary accounts. (Post entries in the order Retained Earnings No. 320 Date Explanation Ref Debit Credit Balance July 31 J15 July 31