Fodor Freight Service provides delivery of merchandise to retail grocery stores in northern Manitoba At the beginning of 2018, the following account balances were available During 2018 the following transactions occurred Fodor performed deliveries for customers, all on credit, for $2,256,700 Fodor also made cash deliveries for $686,838 There remains $286,172 of accounts receivable to be collected at December 31, 2018 Fodor purchased advertising of $138,100 during 2018 and debited the amount to prepaid advertising Supplies of $27,200 were purchased on credit and debited to the supplies account Accounts payable at the beginning of 2018 were paid early in 2018 There remains $5,600 of accounts payable unpaid at year end Wages payable at the beginning of 2018 were paid early in 2018 Wages were earned and paid during 2018 in the amount of $666,142 During the year, Trish Hurd, a principal shareholder, purchased an automobile costing $42,000 for her personal use One half year's interest at 6 annual rate was paid on the note payable on July 1, 2018 Property taxes were paid on the land and buildings in the amount of $170,000 Dividends were declared and paid in the amount of $25,000 The following data are available for adjusting entries Supplies in the amount of $13,685 remained unused at year end Annual depreciation on the warehouse building is $70,000 Annual depreciation on the warehouse equipment is $145,000 Wages of $60,558 were unrecorded and unpaid at year end Interest for six months at 6 per year on the note is unpaid and unrecorded at year end Advertising of $14,874 remained unused at the end of 2018 Income taxes of $482,549 related to 2018 are unpaid at year end Prepare closing entries S Cash Accounts Receivable Supplies Prepaid Advertising Building (Warehouse) Accumulated Depreciation (Warehouse) Equipment 92,100 361,500 24,600 2,000 2,190,000 Accumulated Depreciation (Equipment) Land Accounts Payable Wages Payable Notes Payable (due in 2022) Common Shares Retained Earnings, 12 31 2017 $ 580,000 304,975 17,600 30,200 1,000,000 1,400,000 462,375 280,000 795,000 S Cash Accounts Receivable Supplies Prepaid Advertising Building (Warehouse) Accumulated Depreciation (Warehouse) Equipment 92,100 361,500 24,600 2,000 2,190,000 Accumulated Depreciation (Equipment) Land Accounts Payable Wages Payable Notes Payable (due in 2022) Common Shares Retained Earnings, 12 31 2017 $ 580,000 304,975 17,600 30,200 1,000,000 1,400,000 462,375 280,000 795,000

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Fodor Freight Service provides delivery of merchandise to retail grocery stores in northern Manitoba. At the beginning of 2018, the following account balances were available:

Fodor Freight Service provides delivery of merchandise to retail grocery stores in northern Manitoba. At the beginning of 2018, the following account balances were available:
During 2018 the following transactions occurred:
- Fodor performed deliveries for customers, all on credit, for $2,256,700. Fodor also made cash deliveries for $686,838.
- There remains $286,172 of accounts receivable to be collected at December 31, 2018.
- Fodor purchased advertising of $138,100 during 2018 and debited the amount to prepaid advertising.
- Supplies of $27,200 were purchased on credit and debited to the supplies account.
- Accounts payable at the beginning of 2018 were paid early in 2018. There remains $5,600 of accounts payable unpaid at year-end.
- Wages payable at the beginning of 2018 were paid early in 2018. Wages were earned and paid during 2018 in the amount of $666,142.
- During the year, Trish Hurd, a principal shareholder, purchased an automobile costing $42,000 for her personal use.
- One-half year's interest at 6% annual rate was paid on the note payable on July 1, 2018.
- Property taxes were paid on the land and buildings in the amount of $170,000
- Dividends were declared and paid in the amount of $25,000.
The following data are available for adjusting entries:
- Supplies in the amount of $13,685 remained unused at year-end.
- Annual depreciation on the warehouse building is $70,000.
- Annual depreciation on the warehouse equipment is $145,000.
- Wages of $60,558 were unrecorded and unpaid at year-end.
- Interest for six months at 6% per year on the note is unpaid and unrecorded at year-end.
- Advertising of $14,874 remained unused at the end of 2018.
- Income taxes of $482,549 related to 2018 are unpaid at year-end.

-Prepare closing entries

S Cash Accounts Receivable Supplies Prepaid Advertising Building (Warehouse) Accumulated Depreciation (Warehouse) Equipment 92,100 361,500 24,600 2,000 2,190,000 Accumulated Depreciation (Equipment) Land Accounts Payable Wages Payable Notes Payable (due in 2022) Common Shares Retained Earnings, 12/31/2017 $ 580,000 304,975 17,600 30,200 1,000,000 1,400,000 462,375 280,000 795,000 S Cash Accounts Receivable Supplies Prepaid Advertising Building (Warehouse) Accumulated Depreciation (Warehouse) Equipment 92,100 361,500 24,600 2,000 2,190,000 Accumulated Depreciation (Equipment) Land Accounts Payable Wages Payable Notes Payable (due in 2022) Common Shares Retained Earnings, 12/31/2017 $ 580,000 304,975 17,600 30,200 1,000,000 1,400,000 462,375 280,000 795,000