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Using this information could you prepare the closing entry chart for the business that consists of date, particulars, Credit and debit GENERAL JOURNAL Date Particulars

Using this information could you prepare the closing entry chart for the business that consists of date, particulars, Credit and debit
GENERAL JOURNAL
Date Particulars PR Debits Credits
Jan 1 Bank 100,000
Bank loan 96,000
Bank charges expense 4,000
Bank advices #1
Jan 2 Bank $50,000
Agamjot Dhillon, Capital 50,000
Cheque copy #2
Feb 3 Equipment $30,000
Bank 30,000
Purchase invoices #3
Mar 4 Bank $5,000
A/R - R Brown 5,000
Sales invoice #4
Apr 5 Bank $3,000
Fees earned 3,000
Cash sales slip #5
May 6 Supplies $1,070
Bank 1,070
Purchase invoices #6
Jun 7 Bank $2,000
A/R - R Brown 2,000
Fees earned 4,000
Sales invoice #7

Jul 9 Utilities expense $300
Bank 300
Cheque copy #8
Jul 10 Bank $5,000
A/R - R Brown 5,000
Cash receipts daily summary #9
Seo 1 Vehicle $26,750
Bank 26,750
Purchase invoices #10
Sep 12 Advertising Expense $2,140
Bank 2,140
Cheque copy #11
Oct 13 Bank $40,000
Equipment 30,000
Fees earned 10,000
Sales invoice #12
Nov 1 Prepaid insurance $1,200
Bank 1,200
Purchase invoices #13
Dec 15 Wages expense $7,500
Bank 7.500
Cheque copy #14
Dec 31 Bank $5,000
Agamjot Dhillon, Capital 5,000
Cheque copy #15

Agamjot Dhillon, Drawings $5,000
Bank 5,000
Cheque copy #16
Bank $12,500
Bank loan 10,000
Bank charges expense 2,500
Cheque copy #17

PremierAutomotives
Trial Balance
December 31, 2022
Accounts DEBITS CREDITS
Assets
Bank $303,218.78
A/R - R Brown 10,460.18
Prepaid Insurance 5,000
Supplies 31,570
Equipment 116,548.67
Accumulated depreciation- Equipment 15,000
Vehicle 83,692.47
Accumulated depreciation- Vehicle 5,000
Liabilities
A/P - C James $65,000
Bank Loan 196,000
HST payable 3,090
HST recoverable 7,829.48
Equity
Agmajot Dhillon, Capital $268,000
Agamjot Dhillon, Drawings 5,000
Revenue/Expense
Fees earned $57,520
Advertising Expense 4,089.38
Utilities Expense 760
Depreciation Expense 500
Insurance Expense 500
Bank Charges 4,100
Purchases 10,000
Supplies Expense 1,000
Wages Expense 11,000
602,439.48 602,439.48

Premier Automotives
INCOME STATEMENT
For the year ended December 31 2022
Revenue
Fees earned $57,520
Total Revenue $57,520
Expenses
Advertising Expense $4,089.38
Utilities Expense 760
Depreciation Expense 500
Insurance expense 500
Bank Charges 4,100
Purchases 10,000
Supplies Expense 1,000
Wages Expense 12,000
Total Expense $31,949.38
Net income $25,570.62

Using this information could you prepare the closing entry chart for the business that consists of date, particulars, Credit and debit

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