This Question: 6 pts 32 of 35 (6 complete) Consider the following adjusted trial balance Click a icon to viaw the adjusted trial balance. ) Data Table Requirement Given the adjusted trial balance, record the appropriate closing entries. What is net income for the year? 1 Requirement 1, Given adjusted trial balance, record the appropriate closing entries. What is net income for e vear? Brett's Bait and Tackle, Inc. appear on the last line of the entry) Bagin by recording the appropriate closing entries. (Record debits first, then credits. Explanations w Adjusted Trial Balance , 2011 Start by closing out revenues. June Debit Credit Date Credit Rel. Accounts and Explanation Debit Caeb 13.000 Jul C-1 31 Accounts receivable 20 000 Prepaid rent 28 000 21,500 Supplies 20,000 Equipment Accumulated depreciation 9,000 Clase out expenses and 64.000 Date 23.000 Ref Accounts and Explanation Debit Credit Accounts payable 25.000 Jul Notes payable C-2 31 2.000 Interest payable 51,000 Common stock 29.500 a Retained earnings Dividends 4.000 Rales 94.000 Close out dividends Cost of goods sold 45.000 Date Accounts and Explanation Ref. Debit Credit Depreciation expense 3.000 Jul C-3 31 15 000 Salary axpense 233 500 S 233 500 Totals a Retained earnings at July 1, 2010 (No accounts have been clased) Print Done Choose from any list or enter any number in the input fields and then continue to the next