Question
The adjusted trial balance of Sheridan Fashion Retailers Inc. appears below. SHERIDAN FASHION RETAILERS INC. Adjusted Trial Balance December 31, 2025 Debit Credit Cash
The adjusted trial balance of Sheridan Fashion Retailers Inc. appears below. SHERIDAN FASHION RETAILERS INC. Adjusted Trial Balance December 31, 2025 Debit Credit Cash Accounts Receivable $6,800 5,300 Inventory 79,000 Prepaid Insurance Equipment 2,000 112,400 Accumulated Depreciation-Equipment $13,000 Notes Payable 10,800 Accounts Payable Salaries and Wages Payable Property Taxes Payable 8,500 4,700 1.800 Common Stock 21,800 Retained Earnings Dividends 77,200 32,200 Sales Revenue 382,900 COGS 236,900 Depreciation Expense 3,600 Salaries and Wages Expense (selling 25,400/ general 11,000) 36,400 Insurance Expense 1,100 Advertising Expense 1,300 Telephone and Internet Expense 700 Property Tax Expense 3,000 $520,700 $520,700 Using the information from the adjusted trial balance prepare the closing entries for the year ending December 31st, 2025. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Account Titles and Explanation (To close revenue to Income Summary) (To close expenses to Income Summary) (To close Income Summary to Retained Earnings) (To close Dividends to Retained Earnings) Debit Credit
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