An Adjusted Trial Balance Is Shown Below

question 99

Essay

An adjusted trial balance is shown below.
Please provide the third closing entry.

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Definitions:

American Entrepreneur

An individual in the United States who initiates and manages a business venture, taking on financial risks in the hope of profit.

Entrepreneurial Faculties

The skills, abilities, and mindset required to successfully identify opportunities, create, and grow new business ventures, including creativity, leadership, and risk tolerance.

Rapid Explosion

A sudden and rapid increase or expansion in a particular area or field, often used to describe quick growth in technology, population, or information.

Entrepreneurship

Entrepreneurship is the act of creating, managing, and running a new business or venture, taking on financial risks in the hope of making a profit.