Required information

Skip to question

[The following information applies to the questions displayed below.]

The following adjusted trial balance at December 31 of Wilson Trucking Company.

Account Title	Debit	Credit
Cash	$ 9,200
Accounts receivable	18,700
Office supplies	4,200
Trucks	184,000
Accumulated depreciationTrucks		$ 37,200
Land	97,000
Accounts payable		15,600
Interest payable		5,200
Long-term notes payable		64,000
Common stock		36,000
Retained earnings		146,000
Dividends	21,200
Trucking revenue		142,000
Depreciation expenseTrucks	24,700
Salaries expense	64,600
Office supplies expense	9,200
Interest expense	13,200
Totals	$ 446,000	$ 446,000

Prepare the closing entries for the year ended December 31. The Retained Earnings account balance was $146,000 at December 31 of the prior year.

Journal entry worksheet

• Prepare the entry to close the revenue account(s).

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
December 31