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Michael Rau founded Michael's Fishing Supplies on 1 July 2019. The adjusted trial balance at 30 June 2020 (the end of the financia year) is
Michael Rau founded Michael's Fishing Supplies on 1 July 2019. The adjusted trial balance at 30 June 2020 (the end of the financia year) is shown below. Accumulated depreciation - boat $14,760 Accounts payable 4,920 Salaries payable 1,670 Interest payable 2,560 Mortgage payable 6,400 Prepare closing entries to be made on 30 June 2020. (Enter debit entries first, followed by credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Prepare closing entries to be made on 30 June 2020. (Enter debit entries first, followed by credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Question 1 of 23 30 (Close expense accounts to profit or loss summary) 30 (Close expense accounts to profit or loss summary) 30 (Close profit or loss summary to capital) 30 (Close drawings to capital) Prepare a post-closing trial balance as at 30 June 2020. Question 1 of 23
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