The December 31, 2010, adjusted trial balance for the Crosby Corporation is

presented below.

Account Title

Cash

Accounts receivable

DIVIDENDS

ffice supplies

Equipment

Accumulated depreciation

Accounts payable

Salaries payable

Interest payable

Notes payable (due in two years)

Common stock

Retained earnings

Service revenue

Salares expense

Rent expense

Depreciation expense

Interest expense

Debit

$

11.000

140,000

5,000

25,000

300,000

Credit

$ 125,000

11,000

10,000

4.000

30,000

200,000

50,000

400,000

300.000

15,000

30,000

4,000

$ 830.000

$ 830.000

Required:

1. Prepare the necessary closing entries at December 31, 2010.