Please record the February closing entries for Spex in the City, with the help of their Adjusted Trial Balance below.

Please close the accounts in the same order we learned in the module.

IMPORTANT:

When entering numbers, please do not add commas or dollar signs.

Spex in the City

Adjusted Trial Balance

February $29,2024$

Account Name Debit Credit

Cash $$6,300$

Accounts Receivable $3,950$

Equipment $28,500$

Accumulated Depreciation $-$ Equipment $$14,250$

Accounts Payable $6,200$

Bank Loan Payable $10,500$

Ollett, Capital $8,400$

Ollett, Withdrawals $2,100$

Service Revenue $12,950$

Advertising Expense $950$

Interest Expense $150$

Rent Expense $3,400$

Salaries Expense $6,500$

Utilities Expense $450$

TOTALS: $$52,300$ $$52,300$

Step $1$:

Journal Page $4$

Date Accounts and Explanations PR Debit Credit

$2024$

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