Problem 4-4A Closing entries LO2, 3 The adjusted trial balance for Lloyd Construction as of December 31, 2023, follows: No. 101 Cash 104 Short-term investments 126 Supplies 149 Notes receivable 167 168 173 174 183 193 Equipment Accumulated depreciation, equipment Building Accumulated depreciation, building Land Franchise 201 Accounts payable 203 Interest payable 233 Unearned professional revenue Long-term notes payable 251 301 Account Amar Lloyd, capital 302 Amar Lloyd, withdrawals 401 Professional revenue 406 Rent revenue 606 Depreciation expense, building Depreciation expense, equipment 612 623 633 637 652 688 690 Wages expense Interest expense Insurance expense Supplies expense Telephone expense Utilities expense Totals Debit $ 15,800 20,800 7,400 41,000 76,000 258,000 85,000 30,000 2,800 19,800 7,800 63,800 590 17,800 12,600 Credit $ 37,000 140,000 Required: Prepare the closing entries made at the end of the year. 16,800 130 26,800 130,000 90, 180 204,480 25,000 4,200 7,000 $670,390 $670,390 I An analysis of other information reveals that Lloyd Construction is required to make a $43,000 payment on the long-term notes payable during 2024. The notes receivable are due May 1, 2025. Also, Amar Lloyd invested $73,000 cash early in 2023.

Problem 4-4A Closing entries LO2, 3 The adjusted trial balance for Lloyd Construction as of December 31, 2023, follows: An analysis of other information reveals that Lloyd Construction is required to make a $43.000 payment on the long-term notes payable during 2024. The notes receivable are due May 1, 2025. Also, Amar Lloyd invested \$73,000 cash early in 2023. Required: Prepare the closing entries made at the end of the year