Question 3 NOTE: There are 4 parts to this question Credit 2,100 REMUS INDUSTRIES Trial Balance 31-Dec Unadjusted Debit Cash 55,500 Accounts Receivable 96,000 Allowance for Bad Debt Inventory, December 31 240,000 Prepaid Insurance 15,300 Equipment 252,000 Accumulated Depreciation - Equipment Notes Payable Common Stock Retained Earnings Sales Revenue Cost of Goods Sold 1,224,000 Salaries and Wage Expense (sales) 150,000 Advertising Expense 20,100 Salaries and Wage Expense (administrative) 195,000 Supplies Expense 15,000 2,262,900 105,000 84,000 241,800 30,000 1,800,000 2,262,900 The books are closed yearly on December 31. Additional information is provided below: 1. Bad debt expense is estimated to be 2,880. 2. Equipment is depreciated based on a 10-year useful life (no salvage value). 3. Insurance expired during the year 10,200. 4. Interest accrued on notes payable 4200. 5. Administrative salaries and wages earned by not paid 3,850, 6. Advertising paid in advance 6,500 but not used, charged to Advertising Expense when purchased. 7. Office supplies on hand 4,700, charged to Supplies Expense when purchased. Question 3 Part D: Prepare the closing entries