PA 5. LO 5.1Use the following Adjusted Trial Balance to prepare the four journal entries required to close the books: Adjusted Trial Balance.

Cash 22,900 debit

. Prepaid insurance 4,000 debit.

Fixed Assets 44,000 debit

. Notes Payable 40,000 credit

. Common Stock 25,000 credit

. Retained Earnings 48,350 credit

. Dividends 22,000 debit

. Sales revenue 150,000 credit

. Automobile expense 26,500 debit.

Insurance expense 20,000 debit

. Salaries expense 122,500 debit.

Supplies expense 1,450 debit.

Total debits and total credits

each are 263,350.