Given the Following Adjusted Account Balances in Random Order, Prepare

question 50

Essay

Given the following adjusted account balances in random order, prepare the closing entries for Sheer Fabrics on December 31, 2019. $$\begin{array} { l r } \text { Cash } & 35,000 \\\text { Suzie Sheer, Capital } & 85,000 \\\text { Accounts payable } & 33,000 \\\text { Service revenue } & 84,000 \\\text { Amortization expense-building } & 12,000 \\\text { Salary expense } & 29,000 \\\text { Unearned service revenue } & 24,000 \\\text { Prepaid rent } & 9,000 \\\text { Supplies expense } & 6,000 \\\text { Note payable } & 71,000 \\\text { Land } & 65,000 \\\text { Accounts receivable } & 32,000 \\\text { Accum. amortization-building } & 12,000 \\\text { Interest revenue } & 14,000 \\\text { Interest payable } & 3,000 \\\text { Suzie Sheer, Withdrawals } & 20,000 \\\text { Rent expense } & 15,000 \\\text { Building } & 95,000 \\\text { Supplies } & 4,000 \\\text { Interest expense } & 4,000\end{array}$$

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Definitions:

Diluent

A liquid used to dissolve and dilute another substance, such as a drug.

Sublingual Medication

Drugs that are administered by being placed under the tongue for absorption through the mucous membranes into the bloodstream for faster action.

Oral Route

A method of drug administration where medication is taken through the mouth.

Hypertensive Crisis

A severe and sudden increase in blood pressure that can lead to stroke, heart attack, or other serious health issues if not promptly treated.