The Following Is the Adjusted Trial Balance as of December

question 61

Essay

The following is the adjusted trial balance as of December 31,2019 of Barone Brothers Company:
$\begin{array}{|l|r|r|}\hline \text { Accounts } & { \text { Debit } } & { \text { Credit } } \\\hline \text { Cash } & \$ 18,000 \\\hline \text { Accounts Receivable } & 30,000 \\\hline \text { Prepaid Insurance } & 9,000 \\\hline \text { Office Supplies } & 3,200 \\\hline \text { Land } & 45,000 \\\hline \text { Building } & 165,000 \\\hline \text { Accumulated Depreciation-Building } & & \$ 12,000 \\\hline \text { Equipment } & 88,000 & \\\hline \text { Accumulated Depreciation-Equipment } & & 8,500 \\\hline \text { Accounts Payable } & & 12,000 \\\hline \text { Salaries Payable } & & 2,000 \\\hline \text { Unearned Revenue } & & 25,000 \\\hline \text { Mortgage Payable } & & 100,00 \\\hline \text { Martin, Capital } & & 21,290\\ \hline \text { Martin, Withdrawals } & 25,840 & \\\hline \text { Service Revenue } & & 325,00 \\\hline \text { Salaries Expense } & 63,000 & \\\hline \text { Depreciation Expense—Building and } & & \\\text { Equipment } & 6,250 & \\\hline \text { Supplies Expense } & 15,000 & \\\hline \text { Insurance Expense } & 14,500 & \\\hline \text { Utilities Expense } & 23,000 & \\\hline \text { Total } & \$ 505,790 & \$ 505,790 \\\hline\end{array}$
Prepare the closing entry for expenses.Omit explanation.

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Definitions:

AV Node

The atrioventricular node, a part of the heart's electrical system that acts as a gatekeeper, slowing the electrical current before it passes from the atria to the ventricles.

SA Node

The sinoatrial node, also known as the heart's natural pacemaker, is a cluster of cells situated in the right atrium of the heart that regulates the heart's rhythm by generating electrical impulses.

Bundle of His

A collection of heart muscle cells specialized for electrical conduction that transmits the electrical impulses from the atrioventricular node to the ventricles of the heart.

Electrocardiogram

A test that measures the electrical activity of the heart to detect heart problems and monitor heart health.