Given the Following Adjusted Trial Balance, What Will Be the Totals

question 241

Multiple Choice

Given the following adjusted trial balance, what will be the totals for the debit and credit columns of the post-closing trial balance?

• A) $7,396
• B) $7,118
• C) $7,344
• D) $7,170

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Definitions:

Advertising Expense

The costs incurred in promoting products or services through various media channels to increase sales or awareness.

Freight-in

Costs associated with shipping goods into a business, considered a part of inventory costs.

Selling Expenses

Operating expenses directly related to the sale of goods excluding Cost of Goods Sold.

Interest Revenue

Income earned by lending funds or allowing another entity to use your funds, where the borrower pays interest.