prepare the closing entries, post owners capital and income summary, and post closing trail balance for july 31

Weygandt, AcCounting Principles, 13e URCES Exercise 4-08 a-c (Video) Blossom Company ended its fiscal year on July 31, 2020. The company's adjusted trial balance 4-05 a 2 Blossom Company Adjusted Trial Balance July 31, 2020 4 a-c -a3 -b Account Titles No. Debit Credit Cash 101 $10,800 112 Accounts Receivable 9,200 157 Equipment -b 16,000 Accumulated Depreciation-Equip. 158 $7,800 201 Accounts Payable 4,500 208 y Study Unearned Rent Revenue 1,800 301 Owner's Capital 45,000 306 Owner's Drawings 15,700 400 Service Revenue 63,800 429 Rent Revenue 6,600 711 Depreciation Expense 7,000 Salaries and Wages Expense 726 56,000 732 Utilities Expense 14,800 $129,500 $129,500 Prepare the closing entries. (Credit account titles are automatically indented when amount is en Account Titles and Explanation Date Debit Credit July 31 (To close revenue accounts) July 31 (To close expense accounts) July 31 CALCULATO SOURCES Post to Owner's Capital and Income Summary accounts. (Post entries in the order of journal entries pres using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) 9 4-05 a 1-a2 Owner's Capital No. 301 cle Date Explanation Debit Credit Balance ons 4 a-c S al-a3 5 a-b 8 a-d July 31 July 31 2 a-b July 31 Its by Study No. 350 Income Summary Date Explanation Debit Credit Balance July 31 July 31 July 31 Prepare a p0st-closing trial balance at July 31, BLOSSOM COMPANY Post-Closing Trial Balance Debit Credit