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[The following information applies to the questions displayed below.] The following adjusted trial balance at December 31 of Wilson Trucking Company. Account Title Cash Accounts
[The following information applies to the questions displayed below.] The following adjusted trial balance at December 31 of Wilson Trucking Company. Account Title Cash Accounts receivable Debit $ 9,800 19,300 Credit Office supplies Trucks 4,800 190,000 Accumulated depreciation-Trucks $ 37,800 Land 103,000 Accounts payable 17,400 Interest payable 5,800 Long-term notes payable 67,000 Common stock 39,000 Retained earnings 149,000 Dividends 21,800 Trucking revenue 148,000 Depreciation expense-Trucks 25,300 Salaries expense 66,400 Office supplies expense 9,800 Interest expense Totals 13,800 $ 464,000 $ 464,000 Prepare the closing entries for the year ended December 31. The Retained Earnings account balance was $149,000 at December the prior year
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