prepare the closing entries at january 31 for the current year.

Part 1 Following is the year-end adjusted trial balance for Printing Plus company for the year end: PRINTING PLUS Adjusted Trial Balance January 31, 2019 Account Debit Credit $24,800 1,200 140 400 3,500 Cash Accounts Receivable Interest Receivable Supplies Equipment Accumulated Depreciation: Equipment Accounts Payable Salaries Payable Unearned Revenue Common Stock Dividends Interest Revenue Service Revenue Supplies Expense Depreciation Expense: Equipment Salaries Expense Utility Expense Total $ 75 500 1,500 3,400 20,000 100 140 10,100 100 75 5,100 300 $35,715 $35,715 Requirement: Prepare the closing entries at January 31st for the current year. (5 marks) 4. A consumer has $40 to spend on two products X and Y that are for sale. The marginal-utility schedules for these two goods are shown in the table below. The marginal utility per dollar from X and Y is also shown in the table. Assume that the prices of X and Y are $10 and $5, respectively Quantity Product X MU MU/$10 6.50 7.50 11.00 9.50 10.50 11.50 Product Y MU MU/$5 15.30 18.70 22.00 25.30 28.70 32.00 105 115 Complete the table to show how much of X and Y will the consumer buy when maximizing utility by spending income. Is there any left over? How much? Quantity of X demanded Quantity of Y demanded Price of X Price of Y $10.00 $5.00