Question
Speaker Musical Theatre has journalized their adjusting entries and prepared their adjusted trial balance. Prepare the closing entries using the income summary account for
Speaker Musical Theatre has journalized their adjusting entries and prepared their adjusted trial balance. Prepare the closing entries using the income summary account for the month of June and create the post-closing trial balance. Speaker Musical Theatre Adjusted Trial Balance June 30, 2021 Account Titles DR CR Cash $6,640 Accounts Receivable $1,930 Prepaid Insurance $1,270 Equipment $10,300 Accumulated Depreciation $430 Accounts Payable $1,290 Interest Payable $100 Unearned Revenue $1,520 Bank Loan $2,680 Nichols, Capital $10,770 Nichols, Withdrawals $520 Service Revenue $5,840 Depreciation Expense $290 Insurance Expense $210 Interest Expense $100 Office Supplies Expense $170 Rent Expense $830 Telephone Expense $370 Total $22,630 $22,630
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