The following is Horseman Industries' adjusted trial balance in account order for the year ended November 30, 2018.

Horseman Adjusted Trial Balance November 30, 2018
Account Titles	DR	CR
Cash	$3,210
Accounts Receivable	$2,690
Merchandise Inventory	$16,060
Prepaid Rent	$8,510
Equipment	$43,140
Accumulated Depreciation		$560
Accounts Payable		$2,660
Unearned Revenue		$1,880
Salaries Payable		$2,300
Kiefer, Capital		$63,080
Sales Revenue		$79,420
Sales Discounts	$1,730
Sales Returns and Allowances	$630
Cost of Goods Sold	$39,710
Depreciation Expense	$1,120
Rent Expense	$9,790
Salaries Expense	$15,160
Utilities Expense	$8,150
Total	$149,900	$149,900

Do not enter dollar signs or commas in the input boxes. When closing accounts, use the income summary method. To close the expense accounts, enter them in the order presented on the trial balance.

Prepare the journal entries to close the appropriate accounts.

Date	Account Title and Explanation	Debit	Credit
2018
Nov 30	AnswerAccounts PayableAccounts ReceivableAccumulated DepreciationCashCost of Goods SoldDepreciation ExpenseEquipmentIncome SummaryKiefer, CapitalMerchandise InventoryPrepaid RentRent ExpenseSalaries ExpenseSalaries PayableSales DiscountsSales Returns and AllowancesSales RevenueUnearned RevenueUtilities Expense	Answer
	AnswerAccounts PayableAccounts ReceivableAccumulated DepreciationCashCost of Goods SoldDepreciation ExpenseEquipmentIncome SummaryKiefer, CapitalMerchandise InventoryPrepaid RentRent ExpenseSalaries ExpenseSalaries PayableSales DiscountsSales Returns and AllowancesSales RevenueUnearned RevenueUtilities Expense		Answer
	Close revenue accounts
Nov 30	AnswerAccounts PayableAccounts ReceivableAccumulated DepreciationCashCost of Goods SoldDepreciation ExpenseEquipmentIncome SummaryKiefer, CapitalMerchandise InventoryPrepaid RentRent ExpenseSalaries ExpenseSalaries PayableSales DiscountsSales Returns and AllowancesSales RevenueUnearned RevenueUtilities Expense	Answer
	AnswerAccounts PayableAccounts ReceivableAccumulated DepreciationCashCost of Goods SoldDepreciation ExpenseEquipmentIncome SummaryKiefer, CapitalMerchandise InventoryPrepaid RentRent ExpenseSalaries ExpenseSalaries PayableSales DiscountsSales Returns and AllowancesSales RevenueUnearned RevenueUtilities Expense		Answer
	AnswerAccounts PayableAccounts ReceivableAccumulated DepreciationCashCost of Goods SoldDepreciation ExpenseEquipmentIncome SummaryKiefer, CapitalMerchandise InventoryPrepaid RentRent ExpenseSalaries ExpenseSalaries PayableSales DiscountsSales Returns and AllowancesSales RevenueUnearned RevenueUtilities Expense		Answer
	AnswerAccounts PayableAccounts ReceivableAccumulated DepreciationCashCost of Goods SoldDepreciation ExpenseEquipmentIncome SummaryKiefer, CapitalMerchandise InventoryPrepaid RentRent ExpenseSalaries ExpenseSalaries PayableSales DiscountsSales Returns and AllowancesSales RevenueUnearned RevenueUtilities Expense		Answer
	AnswerAccounts PayableAccounts ReceivableAccumulated DepreciationCashCost of Goods SoldDepreciation ExpenseEquipmentIncome SummaryKiefer, CapitalMerchandise InventoryPrepaid RentRent ExpenseSalaries ExpenseSalaries PayableSales DiscountsSales Returns and AllowancesSales RevenueUnearned RevenueUtilities Expense		Answer
	AnswerAccounts PayableAccounts ReceivableAccumulated DepreciationCashCost of Goods SoldDepreciation ExpenseEquipmentIncome SummaryKiefer, CapitalMerchandise InventoryPrepaid RentRent ExpenseSalaries ExpenseSalaries PayableSales DiscountsSales Returns and AllowancesSales RevenueUnearned RevenueUtilities Expense		Answer
	AnswerAccounts PayableAccounts ReceivableAccumulated DepreciationCashCost of Goods SoldDepreciation ExpenseEquipmentIncome SummaryKiefer, CapitalMerchandise InventoryPrepaid RentRent ExpenseSalaries ExpenseSalaries PayableSales DiscountsSales Returns and AllowancesSales RevenueUnearned RevenueUtilities Expense		Answer
	AnswerAccounts PayableAccounts ReceivableAccumulated DepreciationCashCost of Goods SoldDepreciation ExpenseEquipmentIncome SummaryKiefer, CapitalMerchandise InventoryPrepaid RentRent ExpenseSalaries ExpenseSalaries PayableSales DiscountsSales Returns and AllowancesSales RevenueUnearned RevenueUtilities Expense		Answer
	Close expense accounts
Nov 30	AnswerAccounts PayableAccounts ReceivableAccumulated DepreciationCashCost of Goods SoldDepreciation ExpenseEquipmentIncome SummaryKiefer, CapitalMerchandise InventoryPrepaid RentRent ExpenseSalaries ExpenseSalaries PayableSales DiscountsSales Returns and AllowancesSales RevenueUnearned RevenueUtilities Expense	Answer
	AnswerAccounts PayableAccounts ReceivableAccumulated DepreciationCashCost of Goods SoldDepreciation ExpenseEquipmentIncome SummaryKiefer, CapitalMerchandise InventoryPrepaid RentRent ExpenseSalaries ExpenseSalaries PayableSales DiscountsSales Returns and AllowancesSales RevenueUnearned RevenueUtilities Expense		Answer
	Close income summary account