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

question 25

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

Identify gender differences in psychological diagnoses.

Acknowledge the role of clinical interviews and behavioral assessments in personality assessment.

Evaluate the impact of social networking on the perception of others.

Understand the reliability and validity issues associated with projective tests.

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Definitions:

Intergenerational Equity

The principle of fairness or justice in relationships between children, youth, adults, and seniors, emphasizing the equitable distribution of resources across generations.

Exponential Growth

A rapid increase in quantity over time, where the rate of growth is proportional to the current size, leading to the doubling of the size in regularly spaced intervals.

Rapidly

Occurring within a very short time frame; happening quickly or in a fast manner.

Non-Metallic

Refers to elements or materials that do not exhibit the characteristics of metals, such as electrical conductivity or luster.