Quality Service Systems Adjusted Trial Balance March 31, 2018 Balance Account Title Debit Credit Cash $ 4,400 Accounts Receivable 13,700 31,000 6,800 42,700 $ Merchandise Inventory Office Supplies Equipment Accumulated Depreciation Equipment Accounts Payable Salaries Payable Notes Payable, long-term Munro, Capital 13,300 9,900 600 7,400 23,650 Munro, Withdrawals 40,000 Accounts Receivable 13,700 Merchandise Inventory 31,000 6,800 42,700 Office Supplies Equipment Accumulated Depreciation Equipment Accounts Payable 13,300 9,900 Salaries Payable 600 7,400 Notes Payable, long-term Munro, Capital 23,650 Munro, Withdrawals 40,000 Sales Revenue 233,000 Cost of Goods Sold 104,850 27,700 Selling Expense Administrative Expense 14,000 Interest Expense 2,700 $ 287,850 $ 287,850 Total Quality Service Systems uses a perpetual inventory system. The adjusted trial balance of Quality Service Systems at March 31, 2018, follows: (Click the icon to view the adjusted trial balance) Read the requirements Requirement 1. Joumalize the required closing entries at March 31, 2018. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Start by closing revenues. Do not close expenses or contra-revenue accounts; we will do this in the next step. Date Accounts and Explanation Debit Credit Mar. 31 Clos (1) Close expenses and other temporary accounts for the period Date Accounts and Explanation Debit Credit Mar. 31 Clos. (2) Close Income Summary Date Accounts and Explanation Debit Credit Mar. 31 Clos (3) Close withdrawals. Date Accounts and Explanation Debit Credit Mar. 31 Clos. (4) Requirement 2. The following T-accounts have been set up: Income Summary; Munro, Capital; and Munro, Withdrawals. Post the closing entries Quit Service Bystem as a pertinentory system. The sledilce of Quality Service System March 31, 2018, follows: Click the icon to view the adjusted balance) Read the ques Requirement 2. The foaing Tacos habet up name Summary Mur, Capital and Murro What the dosing to the accounts, and we endringene Uber and the corresponding number shows in the journal artym posting referencer. Cor. The used belance of each court has been red for you. For any counts with a zero balance we closing en on the romal side of the count for come Summarycale and the balance before posting the entry to close the went Post the entry to close come Sumary account on the newer the balance prior to dining the third ine) and the show the poul-closing balance on the last outline of the Review the closing umalies you prepared above Murre, Whale Murre. Capital AB 40.000 23.610 4 Requirements. How much was Quality's retirements Quality had