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Cash 112,500 Rent Receivable 4080 Accounts Receivable 63,000 Allowance for Doubtful Accounts 12,600 Prepaid Insurance 4700...

Cash 112,500
Rent Receivable 4080
Accounts Receivable 63,000
Allowance for Doubtful Accounts 12,600
Prepaid Insurance 4700
Land 347,000
Buildings 582,000
Accumulated Depreciation - Buildings 57,400
Equipment 315000
Accumulated Depreciation - Equipment 142650
Unearned Revenue 9550
Salaries and Wages Payable 3730
Common Shares 867670
Retained Earnings 151000
Sales Revenue 422050
Rent Revenue 48960
Bad Debt Expense 3750
Utilities Expense 74600
Repairs and Maintenance Expense 53000
Insurance Expense 5300
Salaries and Wages Expense 93030
Depreciation Expense 38550
1706060 1706060

Prepare closing entries.

First Three is for (To Close Accounts)
Second 7 Rows is for (To Close Expense Accounts)
Last two is to close income summary accounts

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