Grodimans Company Adjusted Trial Balnace 31-Dec-17 Debit Credit 63,000 170,000 1,600 420,000 9,400 Account Title Cash Accounts Receivable Allowance for doubtful accounts Equipment Accumulated Depreciation Accounts Payable Notes Payable J.D. Davidson, Capital J.D. Davidson, Drawing Fees Earned Wages Expense Rent Expense Depreciation Expense Totals 14,000 32,000 47,000 8,000 85,000 31,000 25,000 3,000 189,000 189,00C Using the company spreadsheet above, the entry to close expenses would be: 420,UUU Cquipment Accumulated 9,400 Depreciation Accounts Payable 14,000 Notes Payable 32,000 J.D. Davidson, Capital 47,000 J.D. Davidson, Drawing 8,000 Fees Earned 85,000 Wages Expense 31,000 Rent Expense 25,000 Depreciation Expense 3,000 Totals 189,000 189,000 Using the company spreadsheet above, the entry to close expenses would be: Debit Wages Expense 31,000 Rent Expense 25,000 Depreciation Expense 3,000 Credit Income Summary 59,000 Debit Expenses 59,000; Credit Income Summary 59,000 Debit Wages Expense 31,000 Rent Expense 25,000 Depreciation Expense 3,000 Credit Finley, Drawing 59,000 Debit Income Summary 59,000; Credit Wages Expense 31,000, Rent Expense 25,000, Depreciation Summary 3,000