Progressive Enterprise

Trial Balance

As at 30th June, 2021

Particulars	Dr. Balances	Cr. Balances
Land and building	50,000.00
Purchases	2,10,000.00
Opening stock	45,000.00
Returns inward	1,500.00
Returns outward		2,500.00
Wages	45,300.00
Salaries	39,000.00
Office expenses	15,400.00
Carriage inwards	1,200.00
Carriage outwards	2,000.00
Discount allowed	750.00
Discount received		1,200.00
Bad debts	1,200.00
Sales		3,85,000.00
Capital account		1,15,000.00
Loan		25,000.00
Insurance	1,500.00
Commission		1,500.00
Plant and machinery	50,000.00
Furniture and fixtures	20,000.00
Notes receivable	20,000.00
Accounts receivables	40,000.00
Accounts payable		25,000.00
Cash at bank	16,000.00
Office equipments	12,000.00
Notes payable		12,350.00
Expenses payable		3,300.00
Total	5,70,850.00	5,70,850.00

Required : Prepare necessary closing journals entries.