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Supplies Assets Debit balance Balance Sheet Identify which entry below is an adjusting entry (AE) or a closing entry (CE). 11 Insurance Expense $1,200 Prepaid
Supplies Assets Debit balance Balance Sheet Identify which entry below is an adjusting entry (AE) or a closing entry (CE). 11 Insurance Expense $1,200 Prepaid Insurance $1,200 12 Wages Expense $450 Wages Payable $450 13 Income Summary $700 Utilities Expense $700 14 Fees Earned $17,000 Income Summary $17,000 15 Capital $1,000 Withdrawals $1,000 16 Depreciation Expense $250 Accumulated Depreciation $250
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