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. Prepare the closing entries for December 31, 2017 for ABC Piano School given its adjusted trial balance below: ABC Piano School Adjusted Trial Balance

. Prepare the closing entries for December 31, 2017 for ABC Piano School given its adjusted trial balance below:

ABC Piano School

Adjusted Trial Balance

December 31, 2017

Debit Credit

Cash$ 7000

Accounts Receivable3000

Piano31000

Accumulated Depreciation, Piano$ 27,000

Salaries Payable700

ABC, Capital17200

ABC, Withdrawal2300

Teaching Revenue38000

Salaries Expense30000

Depreciation Expense, Piano5000

Utilities Expense4600

Totals$82900$82.900

2.Prepare the post closing trial balance for December 31, 2017

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