An Adjusted Trial Balance Is Shown Below -Please Provide the Fourth Closing Entry

question 87

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 provide the fourth closing entry.
$$\begin{array} { | l | r | r | } \hline \quad\quad\quad&\quad&\quad \\\hline \\\hline\end{array}$$

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Definitions:

Natural Selection

A fundamental mechanism of evolution, whereby individuals with traits better suited to their environment are more likely to survive and reproduce, passing those traits to future generations.

Evolutionary Process

The gradual development of organisms and species over time through mechanisms such as natural selection and genetic drift.

Cultural Evolution

The process by which societies and cultures change over time, including changes in beliefs, practices, technologies, and social structures.

Natural Selection

A process by which organisms better adapted to their environment tend to survive and produce more offspring.