An Adjusted Trial Balance Is Shown Below -Please Prepare the Second Closing Entry

question 10

Essay

An adjusted trial balance is shown below.
$$\begin{array} { | l | r | r | } \hline & { \text { Debit } } & { \text { Credit } } \\\hline \text { Cash } & \$ 12,600 & \\\hline \text { Accounts receivable } & 2,400 & \\\hline \text { Prepaid rent } & 800 & \\\hline \text { Inventory } & 28,000 & \\\hline \text { Accounts payable } & & \$ 4,200 \\\hline \text { Salary payable } & & 1,000 \\\hline \text { Notes payable } & & 800 \\\hline \text { Capital } & & 13,800 \\\hline \text { Drawing } & 1,000 & \\\hline \text { Sales revenue } & &96,000 \\\hline\text { Sales returns and allowances }&1,600\\ \hline \text { Sales discounts } & 400 & \\\hline \text { Cost of goods sold } & 25,000 & \\\hline \text { Salary expense } & 21,000 & \\\hline \text { Rent expens } & 14,000 & \\\hline \text { Depreciation expense } & 8,500 & \\\hline \text { Supplies expense } & 500 & \\\hline \text { Total } & \$ 115,800 & \$ 115,800 \\\hline\end{array}$$

-Please prepare the second closing entry.
$$\begin{array} { | l | r | r | } \hline \quad\quad\quad&\quad&\quad \\\hline \\\hline \\\hline \\\hline \\\hline \\\hline\end{array}$$

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Definitions:

Emotional Memory

The aspects of memory that are associated with emotions, enabling the recollection of emotional experiences.

Amygdala

A part of the brain's limbic system involved in processing emotions, especially fear and pleasure.

Synaptic Connections

The points at which neurons communicate with each other through neurotransmitters across a tiny gap known as the synapse.

Glial Cells

are non-neuronal cells in the central and peripheral nervous systems that support and protect neurons.