Advanced Placement (AP)
The following adjusted trial balance is the result of the adjustments made at the end of the month of July for Ladonna Douglas Company. Utilize these adjusted values to perform the closing entries for Ladonna Douglas Company.Cash 34,750Accounts Receivable 9,750Office Supplies 2,525Store Supplies 4,785Machinery 10,750Accumulated Depreciation 2,150Accounts Payable 14,300Notes Payable 11,500Ladonna Douglas, Capital 53,725Ladonna Douglas, Drawing 13,250Service Revenue 41,500Wages Expense 37,425Rent Expense 3,000Advertising Expense 2,750Office Supplies Expense 1,465Store Supplies Expense 2,150Depreciation Expense 575123,175 123,17