Murray Decorating StudiosAdjusted Trial Balance31-Dec-14List of AccountsEach

    Murray Decorating StudiosAdjusted Trial Balance31-Dec-14List of AccountsEach account has a normal balanceCash3032Accounts receivable1700Prepaid expenses250Supplies150Equipment4600Accumulated depreciation25Land3750Accounts payable220Wages payable400Utilities payable52Short-term note payable400Interest payable37Income tax payable244Unearned revenue1200Long-term note payable3300Common stock150Additional paid-in-capital8850Retained earnings0Dividends1500Decorating revenue5600Interest revenue12Supplies expense350Wages expense4300Fuel expense410Insurance expense50Utilities expense52Depreciation expense25Interest expense77Income tax expense244Prepare the closing entries for this company.

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