The following adjusted trial balance is the result of the adjustments made at the end of the month of July for Ladonna Douglas Corporation.

NOTE: CAN YOU SHOW THE WORK ON HOW TO GET THE RETAINED EARNINGS? THANKS IN ADVANCE.

Ladonna Douglas Corporation

ADJUSTED TRIAL BALANCE

July 31, 20--

	ACCOUNT TITLE	DEBIT	CREDIT
1	Cash	34,750.00
2	Accounts Receivable	9,750.00
3	Office Supplies	2,525.00
4	Store Supplies	4,785.00
5	Machinery	10,750.00
6	Accumulated Depreciation		2,150.00
7	Accounts Payable		14,300.00
8	Notes Payable		11,500.00
9	Common Stock		33,725.00
10	Retained Earnings		20,000.00
11	Dividends	13,250.00
12	Service Revenue		41,500.00
13	Wages Expense	37,425.00
14	Rent Expense	3,000.00
15	Advertising Expense	2,750.00
16	Office Supplies Expense	1,465.00
17	Store Supplies Expense	2,150.00
18	Depreciation Expense	575.00
19	Totals	123,175.00	123,175.00

Required:

Utilize these adjusted values to perform the closing entries for Ladonna Douglas Corporation. Refer to the Chart of Accounts for exact wording of account titles.

General Journal

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Journalize the closing entries on July 31. Refer to the Chart of Accounts for exact wording of account titles.

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JOURNAL

Score: 157/161

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