can someone explain the steps they took to solve this practice problem for my financial accounting class? thank you! Pina Colada Company shows the following balances in selected accounts of its adjusted trial balance.Supplies$ 32,000Service Revenue$ 110,000Supplies Expense9,000Salaries and Wages Expense38,000Accounts Receivable18,000Utilities Expense8,000Dividends22,000Rent Expense16,000Retained Earnings75,000Prepare the closing entries at December 31. (Credit account titles are automatically indented when amount is entered. Do not indentmanually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)DateAccount Titles and ExplanationDebitCreditDec. 31(To close revenue to income summary)31(To close expenses to income summary)31(To close net income to retained earnings)31(To close dividends to retained earnings)

Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Pina Colada Company shows the following balances in selected accounts of its adjusted trial balance. Supplies $ 32,000 $ 110,000 Service Revenue Supplies Expense 9,000 Salaries and Wages Expense 38,000 Accounts Receivable 18,000 Utilities Expense 8,000 Dividends 22,000 Rent Expense 16,000 Retained Earnings 75,000

Pina Colada Company shows the following balances in selected accounts of its adjusted trial balance. Supplies $ 32,000 $ 110,000 Service Revenue Supplies Expense 9,000 Salaries and Wages Expense 38,000 Accounts Receivable 18,000 Utilities Expense 8,000 Dividends 22,000 Rent Expense 16,000 Retained Earnings 75,000

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter14: Accounting For Uncollectible Accounts Receivable

Section: Chapter Questions

Problem 1CP

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