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Problem - The adjusted ledger accounts of RD Consulting on December 31, 2019, appear as follows.
Account Name
Balance
Cash
7,600
Accounts Receivable
2,200
Supplies
2,050
Prepaid Insurance
760
Equipment
20,000
Accumulated Depreciation-Equipment
4,250
Accounts Payable
3,400
Roger Dye, Capital
16,300
Roger Dye, Drawing
4,100
Fees Income
19,300
Supplies Expense
810
Insurance Expense
660
Depreciation Expense-Equipment
610
Salaries Expense
Utilities Expense
1,060
Required -
1. Prepare the Balance Sheet and Income Statement columns of the worksheet.
2. Prepare the closing entries for RD Consulting on December 31, 2019. All accounts have normal balances and adjusting entries have been made.
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