The trial balance of Shefheld Fashion Center contained the following accounts at November 30, the end of the company's fiscal year. Credit Sheffield Fashion Center Trial Balance November 30, 2022 Debit Cash 33.420 Accounts Receivable 37,180 Inventory 48.480 Supplies 8.980 Equipment 139.960 Accumulated Depreciation Equipment Notes Payable Accounts Payable Share Capital-Ordinary Retained Earnings Sales Revenue Sales Returns and Allowances 4,200 Cost of Goods Sold 495.400 Salaries and Wages Expense 138,360 Advertising Expense 27,640 Utilities Expense 15,640 26,480 54.480 51.980 93.480 11.480 765.400 1.14/4 E Advertising Expense Utilities Expense Maintenance and Repairs Expense Delivery Expense Rent Expense Totals 27,640 15,640 12.100 16,700 25,240 1,003,300 1.003.300 Adjustment data: 1. 2. 3. Supplies on hand totaled 4.980. Depreciation is 16,860 on the equipment Interest of $10.490 is accrued on notes payable at November 30, Other data: 1. 2 3. 4. Salaries expense is 70% selling and 30% administrative. Rent expense and utilities expenses are 80% selling and 20% administrative. 30,000 of notes payable are due for payment next year, Maintenance and repairs expense is 100% administrative Supplies and depreciation are selling expenses Question 5 of 5 2.86/4 Journalize the closing entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry for the account titles and enter for the amounts.) No. Date Account Titles and Explanation Debit Nov. 30 Credit 1. (To close accounts with credit balances.) 2 Nov. 30 2.86/4 (To close accounts with debit balances.) 3. Nov. 30 (To close income summary) e Textbook and Media List of Accounts Attempts: unlimited Submit Arwer Save for Later