Laura Eddy opened Eddy's Carpet Cleaners on March 1. During March, the following transactions were completed. Mar. 1 Invested $10,175 cash in the business. 1 Purchased used truck for $6,000, paying $3,000 cash and the balance on account. 3 Purchased cleaning supplies for $1,167 on account. 5 Paid $1,440 cash on one-year insurance policy effective March 1. 14 Billed customers $4,951 for cleaning services. 18 Paid $1,598 cash on amount owed on truck and $417 on amount owed on cleaning supplies. 20 Paid $1,696 cash for employee salaries. 21 Collected $1,456 cash from customers billed on March 14. 28 Billed customers $2,468 for cleaning services. 31 Paid gas and oil for month on truck $197. 31 Withdrew $633 cash for personal use. The chart of accounts for Eddy's Carpet Cleaners contains the following accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 128 Cleaning Supplies, No. 130 Prepaid Insurance, No. 157 Equipment, No. 158 Accumulated Depreciation-Equipment, No. 201 Accounts Payable, No. 212 Salaries Payable, No. 301 L. Eddy, Capital, No. 306, L. Eddy, Drawing, No. 350 Income Summary, No. 400 Service Revenue, No. 633 Gas & Oil Expense, No. 634 Cleaning Supplies Expense, No. 711 Depreciation Expense, No. 722 Insurance Expense, and No. 726 Salaries Expense Journalize the March transactions. Use page J1 for the journal. (For multiple debit/credit entries, list amounts from largest to smallest eg 10, 5, 3, 2. If amounts are the same, list alphabetically.) General Journal J1 Date Account/Description Debit Credit Mar. 1 Prepaid insuranceAccounts receivableInsurance expenseCashCleaning supplies expenseDepreciation expenseService revenueSalaries expenseGas & Oil expenseL. Eddy, CapitalAccounts payableAccumulated depreciationL. Eddy, DrawingIncome SummaryCleaning suppliesSalaries payableEquipment CashAccumulated depreciationIncome SummaryInsurance expenseEquipmentCleaning supplies expenseAccounts payableSalaries payableCleaning suppliesPrepaid insuranceAccounts receivableService revenueSalaries expenseGas & Oil expenseL. Eddy, DrawingDepreciation expenseL. Eddy, Capital Mar. 1 Service revenueCashCleaning suppliesEquipmentL. Eddy, CapitalAccounts payableAccumulated depreciationInsurance expenseSalaries expenseDepreciation expenseCleaning supplies expenseGas & Oil expenseIncome SummarySalaries payablePrepaid insuranceAccounts receivableL. Eddy, Drawing Insurance expenseCleaning suppliesAccounts receivableL. Eddy, CapitalPrepaid insuranceCleaning supplies expenseEquipmentL. Eddy, DrawingService revenueAccumulated depreciationSalaries payableDepreciation expenseIncome SummaryCashAccounts payableSalaries expenseGas & Oil expense Salaries expenseL. Eddy, DrawingCleaning suppliesDepreciation expenseAccumulated depreciationService revenueCleaning supplies expenseGas & Oil expenseInsurance expenseAccounts payablePrepaid insuranceIncome SummarySalaries payableCashL. Eddy, CapitalEquipmentAccounts receivable Mar. 3 Cleaning supplies expenseL. Eddy, CapitalL. Eddy, DrawingDepreciation expenseService revenueIncome SummaryGas & Oil expenseSalaries payableCleaning suppliesEquipmentInsurance expenseAccounts payableAccumulated depreciationCashPrepaid insuranceAccounts receivableSalaries expense CashSalaries payableAccumulated depreciationEquipmentIncome SummaryCleaning suppliesService revenueAccounts receivableGas & Oil expensePrepaid insuranceCleaning supplies expenseAccounts payableL. Eddy, CapitalSalaries expenseL. Eddy, DrawingDepreciation expenseInsurance expense Mar. 5 Accumulated depreciationEquipmentAccounts receivableService revenueAccounts payableGas & Oil expenseDepreciation expenseSalaries payableCleaning supplies expenseInsurance expensePrepaid insuranceCashSalaries expenseIncome SummaryL. Eddy, CapitalCleaning suppliesL. Eddy, Drawing Cleaning supplies expenseCashDepreciation expenseL. Eddy, CapitalInsurance expenseEquipmentAccounts receivableGas & Oil expenseService revenuePrepaid insuranceIncome SummarySalaries payableAccumulated depreciationAccounts payableCleaning suppliesSalaries expenseL. Eddy, Drawing Mar. 14 Service revenueSalaries expenseGas & Oil expenseL. Eddy, CapitalPrepaid insuranceDepreciation expenseAccumulated depreciationL. Eddy, DrawingCleaning supplies expenseInsurance expenseIncome SummarySalaries payableAccounts payableCleaning suppliesAccounts receivableCashEquipment CashAccounts receivableDepreciation expensePrepaid insuranceSalaries expenseAccounts payableL. Eddy, DrawingAccumulated depreciationSalaries payableL. Eddy, CapitalCleaning supplies expenseGas & Oil expenseEquipmentService revenueInsurance expenseCleaning suppliesIncome Summary Mar. 18 CashPrepaid insuranceSalaries expenseGas & Oil expenseCleaning suppliesL. Eddy, CapitalAccounts receivableEquipmentL. Eddy, DrawingIncome SummarySalaries payableCleaning supplies expenseInsurance expenseAccumulated depreciationDepreciation expenseAccounts payableService revenue Accounts payableService revenueAccumulated depreciationL. Eddy, DrawingDepreciation expenseCleaning supplies expenseIncome SummaryL. Eddy, CapitalAccounts receivableCashInsurance expensePrepaid insuranceSalaries payableCleaning suppliesEquipmentSalaries expenseGas & Oil expense Mar.20 Accounts receivableIncome SummaryPrepaid insuranceCleaning suppliesDepreciation expenseL. Eddy, CapitalSalaries expenseEquipmentGas & Oil expenseL. Eddy, DrawingCleaning supplies expenseAccounts payableInsurance expenseAccumulated depreciationSalaries payableCashService revenue Income SummaryDepreciation expenseL. Eddy, DrawingEquipmentL. Eddy, CapitalInsurance expenseService revenueSalaries payablePrepaid insuranceGas & Oil expenseAccounts payableCleaning supplies expenseCleaning suppliesAccumulated depreciationCashSalaries expenseAccounts receivable Mar. 21 Income SummaryDepreciation expenseService revenueSalaries expenseCleaning supplies expenseCleaning suppliesEquipmentInsurance expenseCashAccounts receivablePrepaid insuranceL. Eddy, DrawingAccumulated depreciationL. Eddy, CapitalGas & Oil expenseAccounts payableSalaries payable EquipmentSalaries payableL. Eddy, DrawingCleaning supplies expenseSalaries expenseDepreciation expensePrepaid insuranceInsurance expenseCleaning suppliesService revenueL. Eddy, CapitalIncome SummaryAccumulated depreciationAccounts receivableCashAccounts payableGas & Oil expense Mar. 28 Prepaid insuranceAccounts payableSalaries expenseCleaning suppliesAccounts receivableGas & Oil expenseL. Eddy, CapitalService revenueL. Eddy, DrawingAccumulated depreciationIncome SummaryCleaning supplies expenseDepreciation expenseEquipmentInsurance expenseSalaries payableCash Depreciation expenseAccounts payableIncome SummaryL. Eddy, DrawingCleaning supplies expenseInsurance expenseAccumulated depreciationCashSalaries payableAccounts receivableService revenueSalaries expenseEquipmentPrepaid insuranceL. Eddy, CapitalCleaning suppliesGas & Oil expense Mar. 31 Salaries expenseAccounts payableAccumulated depreciationSalaries payableService revenueGas & Oil expenseEquipmentL. Eddy, CapitalIncome SummaryAccounts receivableCleaning suppliesCashPrepaid insuranceL. Eddy, DrawingCleaning supplies expenseDepreciation expenseInsurance expense EquipmentService revenueIncome SummarySalaries expenseDepreciation expenseSalaries payableGas & Oil expenseInsurance expenseAccumulated depreciationCashCleaning suppliesAccounts payableCleaning supplies expenseAccounts receivablePrepaid insuranceL. Eddy, CapitalL. Eddy, Drawing Mar. 31 Cleaning supplies expenseGas & Oil expenseAccounts payableL. Eddy, DrawingEquipmentAccumulated depreciationIncome SummaryService revenueDepreciation expenseL. Eddy, CapitalInsurance expenseSalaries payableCashSalaries expenseAccounts receivablePrepaid insuranceCleaning supplies Accumulated depreciationPrepaid insuranceCashL. Eddy, CapitalCleaning suppliesIncome SummaryDepreciation expenseService revenueL. Eddy, DrawingEquipmentSalaries payableGas & Oil expenseCleaning supplies expenseInsurance expenseSalaries expenseAccounts payableAccounts receivable Prepare a trial balance at March 31 on a worksheet. Enter the following adjustments on the worksheet and complete the worksheet. (If answer is zero, please enter 0. Do not leave any fields blank.) Earned but unbilled revenue at March 31 was $623. Depreciation on equipment for the month was $240. One-twelfth of the insurance expired. An inventory count shows $382 of cleaning supplies on hand at March 31. Accrued but unpaid employee salaries were $434. EDDY'S CARPET CLEANERS Worksheet For the Month Ended March 31, 2010 Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Account Titles Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Cash Accounts Receivable Cleaning Supplies Prepaid Insurance Equipment Accounts Payable L. Eddy, Capital L. Eddy, Drawings Service Revenue Gas & Oil Expense Salaries Expense Totals Depreciation Expense Accumulated Depreciation Insurance Expense Cleaning Supplies Expense Salaries Payable Totals Net Income Totals Prepare the income statement and owner's equity statement for March and a classified balance sheet at March 31. (List amounts from largest to smallest eg 10, 5, 3, 2. List assets in order of liquidity and liabilities from largest to smallest eg 10, 5, 3, 2. If answer is zero, please enter 0. Do not leave any fields blank.) EDDY'S CARPET CLEANERS Income Statement For the Month Ended March 31, 2010March 31, 2010 Revenues Accumulated depreciationSalaries payableL. Eddy, capitalAccounts payableInsurance expenseCashIncome summaryL. Eddy, drawingEquipmentCleaning suppliesCleaning supplies expenseSalaries expenseService revenueDepreciation expenseAccounts receivableGas & oil expensePrepaid insurance $ Expenses EquipmentAccounts payableCleaning suppliesCleaning supplies expenseCashAccounts receivableDepreciation expenseInsurance expensePrepaid insuranceL. Eddy, capitalAccumulated depreciationL. Eddy, drawingSalaries payableService revenueIncome summarySalaries expenseGas & oil expense $ Cleaning suppliesCashEquipmentService revenueIncome summaryInsurance expenseAccumulated depreciationL. Eddy, drawingSalaries expenseGas & oil expenseAccounts receivableL. Eddy, capitalCleaning supplies expenseSalaries payablePrepaid insuranceDepreciation expenseAccounts payable Cleaning supplies expenseService revenuePrepaid insuranceL. Eddy, drawingGas & oil expenseInsurance expenseIncome summaryCleaning suppliesL. Eddy, capitalAccounts payableCashDepreciation expenseAccumulated depreciationEquipmentSalaries payableSalaries expenseAccounts receivable Accumulated depreciationAccounts payableSalaries payableGas & oil expenseService revenueCashL. Eddy, drawingL. Eddy, capitalAccounts receivableCleaning suppliesIncome summaryPrepaid insuranceDepreciation expenseSalaries expenseEquipmentCleaning supplies expenseInsurance expense Cleaning supplies expenseL. Eddy, drawingDepreciation expenseAccounts receivableInsurance expenseCashCleaning suppliesService revenueAccumulated depreciationSalaries expensePrepaid insuranceEquipmentAccounts payableGas & oil expenseIncome summaryL. Eddy, capitalSalaries payable Total expenses Net income $ EDDY'S CARPET CLEANERS Owner's Equity Statement For the Month Ended March 31, 2010March 31, 2010 Prepaid insuranceGas & oil expenseSalaries payableDrawingsL. Eddy, Capital, March 31InvestmentsAccounts receivableService revenueSalaries expenseCleaning supplies expenseCleaning suppliesEquipmentCashL. Eddy, Capital, March 1Accumulated depreciationDepreciation expenseAccounts payableInsurance expenseIncome summaryNet income $ Add: EquipmentPrepaid insuranceCashAccounts receivableSalaries expenseL. Eddy, Capital, March 1Cleaning suppliesCleaning supplies expenseDepreciation expenseDrawingsInsurance expenseIncome summaryAccumulated depreciationInvestmentsNet incomeAccounts payableL. Eddy, Capital, March 31Salaries payableGas & oil expenseService revenue Gas & oil expenseInsurance expenseCleaning suppliesEquipmentIncome summarySalaries expenseAccumulated depreciationAccounts payableSalaries payableNet incomeDrawingsDepreciation expenseAccounts receivableInvestmentsPrepaid insuranceL. Eddy, Capital, March 1L. Eddy, Capital, March 31Service revenueCleaning supplies expenseCash Less: Cleaning suppliesInsurance expenseSalaries payableDrawingsAccounts receivableAccumulated depreciationDepreciation expenseCleaning supplies expenseSalaries expenseNet incomePrepaid insuranceIncome summaryL. Eddy, Capital, March 31Accounts payableInvestmentsGas & oil expenseL. Eddy, Capital, March 1CashEquipmentService revenue Accumulated depreciationDrawingsIncome summaryPrepaid insuranceNet incomeCleaning suppliesDepreciation expenseL. Eddy, Capital, March 31EquipmentAccounts payableService revenueInvestmentsSalaries expenseL. Eddy, Capital, March 1CashCleaning supplies expenseSalaries payableAccounts receivableGas & oil expenseInsurance expense $ EDDY'S CARPET CLEANERS Balance Sheet For the Month Ended March 31, 2010March 31, 2010 Assets Current Assets Gas & oil expenseL. Eddy, drawingEquipmentAccounts receivableIncome summaryCleaning supplies expenseL. Eddy, CapitalAccounts payableCashAccumulated depreciationSalaries expenseSalaries payableService revenueCleaning suppliesPrepaid insuranceDepreciation expenseInsurance expense $ Cleaning suppliesAccounts payablePrepaid insuranceInsurance expenseCleaning supplies expenseAccounts receivableEquipmentCashAccumulated depreciationSalaries payableDepreciation expenseService revenueSalaries expenseL. Eddy, CapitalGas & oil expenseL. Eddy, drawingIncome summary Salaries payableAccumulated depreciationCleaning supplies expenseDepreciation expenseAccounts receivableAccounts payableCashGas & oil expenseL. Eddy, CapitalService revenueCleaning suppliesPrepaid insuranceEquipmentSalaries expenseInsurance expenseIncome summaryL. Eddy, drawing Prepaid insuranceCleaning supplies expenseCleaning suppliesSalaries payableInsurance expenseL. Eddy, drawingDepreciation expenseGas & oil expenseIncome summaryAccounts receivableCashEquipmentAccounts payableAccumulated depreciationL. Eddy, CapitalSalaries expenseService revenue Total current assets Property, plant and equipment Prepaid insuranceAccounts receivableService revenueL. Eddy, drawingIncome summaryEquipmentCleaning suppliesSalaries expenseL. Eddy, CapitalCashAccumulated depreciationCleaning supplies expenseDepreciation expenseGas & oil expenseAccounts payableSalaries payableInsurance expense $ AddLess: Accumulated depreciationAccounts payableEquipmentCleaning supplies expensePrepaid insuranceIncome summaryInsurance expenseDepreciation expenseAccounts receivableL. Eddy, drawingCleaning suppliesCashSalaries payableL. Eddy, CapitalService revenueSalaries expenseGas & oil expense Total assets $ Liabilities and Owner's Equity Current liabilities Income summaryGas & oil expenseAccounts receivableEquipmentCleaning suppliesL. Eddy, drawingCashAccounts payableAccumulated depreciationDepreciation expensePrepaid insuranceService revenueInsurance expenseSalaries payableCleaning supplies expenseL. Eddy, CapitalSalaries expense $ Cleaning supplies expenseDepreciation expenseCleaning suppliesSalaries expenseIncome summaryGas & oil expenseInsurance expenseAccounts payableSalaries payableL. Eddy, CapitalCashL. Eddy, drawingAccumulated depreciationEquipmentPrepaid insuranceService revenueAccounts receivable Total current liabilities Owner's Equity Insurance expenseCleaning suppliesSalaries expenseAccounts payableL. Eddy, CapitalDepreciation expensePrepaid insuranceSalaries payableCleaning supplies expenseEquipmentGas & oil expenseIncome summaryService revenueL. Eddy, drawingAccounts receivableCashAccumulated depreciation Total liabilities and owner's equity $ Journalize adjusting entries. Use page J2 for the journal. General Journal J2 Date Account/Description Debit Credit Mar. 31 Gas & oil expenseIncome summarySalaries expensePrepaid insuranceAccounts receivableDepreciation expenseSalaries payableL. Eddy, drawingAccumulated depreciationService revenueInsurance expenseCleaning suppliesCleaning supplies expenseL. Eddy, capitalCashEquipmentAccounts payable Depreciation expenseIncome summaryGas & oil expenseEquipmentL. Eddy, capitalL. Eddy, drawingService revenueCashInsurance expenseAccumulated depreciationAccounts payableSalaries payableAccounts receivablePrepaid insuranceCleaning supplies expenseCleaning suppliesSalaries expense (To adjust accounts receivable.) Mar. 31 Depreciation expenseAccumulated depreciationIncome summaryCleaning suppliesAccounts payableCashCleaning supplies expenseInsurance expenseSalaries expenseSalaries payablePrepaid insuranceL. Eddy, capitalL. Eddy, drawingGas & oil expenseAccounts receivableEquipmentService revenue Accounts payableL. Eddy, drawingAccounts receivableAccumulated depreciationService revenueEquipmentIncome summarySalaries expenseDepreciation expenseCleaning suppliesCleaning supplies expenseInsurance expensePrepaid insuranceSalaries payableGas & oil expenseL. Eddy, capitalCash (To adjust depreciation.) Mar. 31 Service revenueAccounts receivableL. Eddy, drawingSalaries payablePrepaid insuranceGas & oil expenseAccumulated depreciationL. Eddy, capitalIncome summaryDepreciation expenseSalaries expenseEquipmentCashCleaning supplies expenseAccounts payableCleaning suppliesInsurance expense EquipmentIncome summaryAccounts payableInsurance expenseService revenueSalaries expenseCleaning suppliesPrepaid insuranceDepreciation expenseAccumulated depreciationCleaning supplies expenseAccounts receivableSalaries payableGas & oil expenseL. Eddy, capitalL. Eddy, drawingCash (To adjust insurance.) Mar. 31 EquipmentCleaning suppliesL. Eddy, drawingL. Eddy, capitalAccounts payableDepreciation expensePrepaid insuranceCashCleaning supplies expenseIncome summaryAccounts receivableSalaries expenseService revenueSalaries payableAccumulated depreciationGas & oil expenseInsurance expense Cleaning supplies expensePrepaid insuranceSalaries expenseL. Eddy, drawingSalaries payableAccumulated depreciationCashGas & oil expenseAccounts payableL. Eddy, capitalCleaning suppliesEquipmentIncome summaryAccounts receivableService revenueDepreciation expenseInsurance expense (To adjust cleaning supplies.) Mar. 31 L. Eddy, drawingInsurance expenseAccounts payableIncome summaryCashEquipmentAccumulated depreciationSalaries expenseAccounts receivableService revenueDepreciation expensePrepaid insuranceCleaning supplies expenseCleaning suppliesSalaries payableGas & oil expenseL. Eddy, capital Service revenueAccounts payableL. Eddy, drawingAccumulated depreciationAccounts receivableDepreciation expenseCleaning supplies expenseInsurance expenseL. Eddy, capitalPrepaid insuranceIncome summaryCleaning suppliesSalaries expenseGas & oil expenseCashSalaries payableEquipment (To adjust salaries.) Journalize the closing entries. Use page J3 for the journal. (For multiple debit/credit entries, list amounts from largest to smallest eg 10, 5, 3, 2.) General Journal J3 Date Description/Account Debit Credit Mar. 31 Prepaid insuranceAccounts payableAccounts receivableSalaries payableEquipmentSalaries expenseInsurance expenseService revenueL. Eddy, DrawingL. Eddy, CapitalCleaning suppliesCleaning supplies expenseAccumulated depreciationIncome summaryDepreciation expenseGas & oil expenseCash Salaries payableAccumulated depreciationL. Eddy, CapitalSalaries expenseIncome summaryService revenueEquipmentDepreciation expenseAccounts receivableInsurance expenseCleaning supplies expenseL. Eddy, DrawingGas & oil expenseAccounts payableCashCleaning suppliesPrepaid insurance (To close revenue account.) Mar. 31 Income summaryAccumulated depreciationGas & oil expenseService revenueSalaries expenseCleaning supplies expenseL. Eddy, CapitalAccounts receivableL. Eddy, DrawingCashCleaning suppliesPrepaid insuranceSalaries payableAccounts payableEquipmentInsurance expenseDepreciation expense Gas & oil expenseInsurance expenseSalaries expenseL. Eddy, DrawingService revenueEquipmentDepreciation expenseAccumulated depreciationCashAccounts receivableIncome summaryAccounts payableCleaning suppliesPrepaid insuranceSalaries payableL. Eddy, CapitalCleaning supplies expense Prepaid insuranceCleaning supplies expenseCashL. Eddy, DrawingL. Eddy, CapitalAccounts receivableEquipmentCleaning suppliesAccumulated depreciationAccounts payableSalaries payableSalaries expenseService revenueIncome summaryDepreciation expenseInsurance expenseGas & oil expense L. Eddy, CapitalL. Eddy, DrawingGas & oil expenseAccumulated depreciationCashIncome summaryDepreciation expenseAccounts receivableCleaning supplies expenseCleaning suppliesPrepaid insuranceEquipmentInsurance expenseAccounts payableSalaries payableService revenueSalaries expense Cleaning supplies expenseDepreciation expenseCleaning suppliesService revenueL. Eddy, CapitalSalaries expenseInsurance expenseSalaries payableAccounts payableCashGas & oil expenseAccounts receivableIncome summaryAccumulated depreciationPrepaid insuranceL. Eddy, DrawingEquipment Insurance expensePrepaid insuranceGas & oil expenseL. Eddy, CapitalCleaning supplies expenseL. Eddy, DrawingDepreciation expenseEquipmentIncome summaryAccounts receivableSalaries expenseAccumulated depreciationCashAccounts payableService revenueCleaning suppliesSalaries payable (To close expense accounts.) Mar. 31 Depreciation expenseAccounts payableInsurance expenseSalaries payableCleaning suppliesCleaning supplies expensePrepaid insuranceAccounts receivableAccumulated depreciationL. Eddy, DrawingEquipmentIncome summarySalaries expenseGas & oil expenseService revenueL. Eddy, CapitalCash L. Eddy, DrawingL. Eddy, CapitalCleaning supplies expenseGas & oil expenseDepreciation expenseSalaries expenseAccounts payableIncome summarySalaries payableInsurance expenseCleaning suppliesService revenueCashAccounts receivableEquipmentPrepaid insuranceAccumulated depreciation (To close net income.) Mar. 31 Cleaning supplies expenseSalaries expenseService revenueL. Eddy, DrawingIncome summaryL. Eddy, CapitalInsurance expenseGas & oil expenseDepreciation expense L. Eddy, DrawingIncome summaryGas & oil expenseL. Eddy, CapitalInsurance expenseDepreciation expenseCleaning supplies expenseSalaries expenseService revenue (To close drawings.) Post the March transactions and adjusting entries using the three-column form of account. Post the closing entries and complete the closing process. (If answer is zero, please enter 0. Do not leave any fields blank.) Cash No. 101 Date Explanation Ref. Debit Credit Balance Mar. 1 J1 1 J1 5 J1 18 J1 20 J1 21 J1 31 J1 31 J1 Accounts Receivable No. 112 Date Explanation Ref. Debit Credit Balance Mar. 14 J1 21 J1 28 J1 31 Adjusting J2 Cleaning Supplies No. 128 Date Explanation Ref. Debit Credit Balance Mar. 3 J1 31 Adjusting J2 Prepaid Insurance No. 130 Date Explanation Ref. Debit Credit Balance Mar. 5 J1 31 Adjusting J2 Equipment No. 157 Date Explanation Ref. Debit Credit Balance Mar. 1 J1 Accumulated Depreciation - Equipment No. 158 Date Explanation Ref. Debit Credit Balance Mar. 31 J2 Accounts Payable No. 201 Date Explanation Ref. Debit Credit Balance Mar. 1 J1 3 J1 18 J1 Salaries Payable No. 212 Date Explanation Ref. Debit Credit Balance Mar. 31 Adjusting J2 L. Eddy, Capital No. 301 Date Explanation Ref. Debit Credit Balance Mar. 1 J1 31 Closing J3 31 Closing J3 L. Eddy, Drawing No. 306 Date Explanation Ref. Debit Credit Balance Mar. 31 J1 31 Closing J3 Income Summary No. 350 Date Explanation Ref. Debit Credit Balance Mar. 31 Closing J3 31 Closing J3 31 Closing J3 Service Revenue No. 400 Date Explanation Ref. Debit Credit Balance Mar. 14 J1 28 J1 31 Adjusting J2 31 Closing J3 Gas & Oil Expense No. 633 Date Explanation Ref. Debit Credit Balance Mar. 31 J1 31 Closing J3 Cleaning Supplies Expense No. 634 Date Explanation Ref. Debit Credit Balance Mar. 31 Adjusting J2 31 Closing J3 Depreciation Expense No. 711 Date Explanation Ref. Debit Credit Balance Mar. 31 Adjusting J2 31 Closing J3 Insurance Expense No. 722 Date Explanation Ref. Debit Credit Balance Mar. 31 Adjusting J2 31 Closing J3 Salaries Expense No. 726 Date Explanation Ref. Debit Credit Balance Mar. 20 J3 31 Adjusting J3 31 Closing J3 Prepare a post-closing trial balance at March 31. (If answer is zero, please enter 0. Do not leave any fields blank.) EDDY'S CARPET CLEANERS Post-Closing Trial Balance March 31, 2010 Trial Balance Account Titles Dr. Cr. Cash $ $ Accounts Receivable Cleaning Supplies Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Salaries Payable L. Eddy, Capital L. Eddy, Drawings Service Revenue Gas & Oil Expense Salaries Expense Depreciation Expense Insurance Expense Cleaning Supplies Expense $ $