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Prepare closing entries for sunland golf club

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Reference no: EM131794865

Problem

The adjusted trial balance for Sunland Golf Club at its October 31, 2017, year end included the following:

Debit

Credit

Cash

$7,500

Prepaid expenses

3,000

Equipment

65,000

Accumulated depreciation-equipment

$15,000

Accounts payable

14,000

Unearned revenue

1,500

N. Sunland, capital

65,900

N. Sunland, drawings

45,300

Service revenue

130,300

Maintenance expense

23,000

Rent expense

10,000

Salaries expense

72,900

Prepare closing entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Reference no: EM131794865

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