On November 30, 2018, the Alou Equipment Repair Corp's adjusted trial balance was as follows. The company closes its books monthly. ALOU EQUIPMENT REPAIR CORP. Trial Balance November 30, 2018 After Adjustment Debit Credit Cash $ 35,230 Accounts Receivable 7,220 Supplies 1,000 Equipment 18,000 Accumulated Depreciation - Equipment 3,900 Accounts Payable 500 Salaries Payable Income Tax Payable 1,100 Unearned Revenue Common Shares 15,000 Retained Earnings 33,200 Dividends Declared 550 Service Revenue 16,000 Salaries Expense 4,600 Rent Expense 500 Supplies Expense 3,500 Income Tax Expense 1,100 Depreciation Expense 300 Totals $ 72,000 $ 72,000 1,000 1,300 Your answer is correct. Prepare the closing journal entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Debit Credit Date Account Titles and Explanation Nov. 30 Service Revenue 16000 16000 Income Summary (To close revenue account.) Income Summary 30 10000 Salaries Expense 4600 Rent Expense 500 Income Tax Expense 1100 Supplies Expense 3500 300 Depreciation Expense (To close expense accounts.) 30 Income Summary 6000 Retained Earnings (To close net income/(loss).) 30 Retained Eamings Dividends Declared (To close dividends declared.) 550 550 Post the closing entries to the Taccounts. (CE means closing entry) (Post entries in the order of journal entries presented in the previous part.) Nov. 1 Bal. Nov. 13 Nov. 13 Nov. 19 Nov. 30 Nov. 30 Bal. Cash 23,980 Nov. 9 4,700 Nov. 21 4,500 Nov. 23 11,200 Nov. 23 1,000 Nov. 28 35,230 2,200 4,600 500 2,400 550 Nov. 1 Bal. Nov. 27 Nov. 30 Bal. Accounts Receivable 7,720 4,000 Nov. 13 7,220 Nov. 1 Bal. Nov. 20 Nov. 30 Bal. Supplies 4,000 500 4,500 Nov. 30 Adj. 1,000 Nov. 30 Bal. Nov. 1 Bal. Nov. 30 Bal. Equipment 18,000 18,000 Accumulated Depreciation Equipment Nov. 1 Bal. Nov. 30 Adj. Nov. 30 Bal. 3,600 300 3,900 4,600 Accounts Payable Nov. 1 Bal. 4,600 Nov. 20 Nov. 30 Bal. Nov. 21 500 000 Nov.9 Salaries Payable Nov. 1 Bal. 1,000 Nov. 30 Bal. Nov. 30 Adj. Nov. 30 Bal. 1000 1,000 Income Tax Payable Nov. 30 Adj. Nov. 30 Bal. 1,100 1,100 1,000 1,000 Unearned Revenue Nov. 1 Bal. Nov. 30 Nov. 30 Bal. 800 Nov. 30 Bal. 2.100 Nov. 30 Adj. 1,300 Common Shares Nov. 1 Bal. Nov. 13 Nov. 30 Bal. 10,300 4,700 15,000 Retained Earnings Nov. 1 Bal. 33,200 33200 Nov. 28 Dividends Declared 550 550 Nov. 30 Bal. 550 Nov. 30 CE1 Nov. 30 CE1 Service Revenue Nov. 19 Nov. 27 Nov. 30 Bal. Nov. 30 Adj. 16000 Nov. 30 CE2 9 Nov. 30 CE19 11,200 4,000 15,200 800 1 16000 Nov. 30 CE1 Rent Expense Nov. 23 500) Nov. 30 Bal. 5000 500 Nov. 30 CE2 Nov. 30 CE2 Income Tax Expense 1,100 Nov. 30 Adj. Nov. 30 Bal. 1,100 1100 Nov. 30 CE2 i Nov. 30 CE29 Nov. 30 Adj. Supplies Expense 3,500 3,500 Nov. 30 Bal. 3500 Nov. 30 CE2 Nov. 30 CE2 Depreciation Expense 300 Nov. 30 Adj. Nov. 30 Bal. 300 300 Nov. 30 CE2 Nov. 30 CE3 Nov. 9 Nov. 23 Nov. 30 Bal. Nov. 30 Adj. Salaries Expense 1,200 2.400 3,600 1,000 4,600 Nov. 30 CE29 Nov. 30 Bal. I 4600 Nov. 30 CE2 Nov. 30 CE3 Income Summary