There's 3 journal entries. 1 is entry to close revenue. 2 is to close expense accounts. 3 is close dividends account
mework due day The following information applies to the questions displayed below Pastina Company sells various types of pasta to grocery chains as private label brands. The company's reporting year-end Is December 31. The unadjusted trial balance as of December 31, 2021, appears below." Account Title Debits Cash 31, 409 Accounts receivable 40, 200 Supplies 1, 606 Inventory 60, 209 Notes receivable 20, 200 Interest receivable Prepaid rent Prepaid insurance 6, 206 Office equipment. Accumulated depreciation 30,300 Accounts payable Salaries payable Notes payable Interest payable Deferred sales revenue Common stock Retained earnings 29.806 Dividends 4. 206 sales revenue 147,900 Interest revenue Cost of goods sold Salaries expense Rent expense Depreciation expense Interest expense Supplies expense 205 Insurance expense Advertising expense 3, 100 TOLeLe 351, 208 351,209 Information necessary to prepare the year-end adjusting entries appears below Depreciation on the office equipment for the year Is $10.100. I Employee salaries are paid twice a month, on the 22nd for salaries earned f of the following month for salaries earned from the 16th through the end of the 16 through December 31. 2021. were $800. On October 1. 2021. Pastina borrowed $50.200 from a local bank and signed : paid annually on September 30 at 128:. The principal is due in 10 years. Of March 1. 2021, the company lent a supplier $20.200 and a note was signed be paid on February 26. 2022. on April 1. 2021 the company paid an Insurance company $6,200 for a one-year fire Insur $6 200 was debited to prepaid Insurance. $500 of supplies remained on hand at December 31, 2021. A customer paid Pastine $2100 in December for 800 pounds of spaghetti to be cell credited deferred sales revenue. 202 3. On December 1, 2021, $1.000 rent was paid to the owner of the building. The payment represented rent for Decent 2021 and January 2022 at $500 per month. The entire amount was debited to prepaid rent. 5. Prepare closing entries, (If no entry is required for a particular transaction, select No journal entry required" in the first account field. Do not round intermediate calculations, Round your final answers to nearest whole dollar.I