The adjusted trial balance for Sparrow Company at December 31, 2024 is presented below. 0 Accounts Dobit Credit Canh $ 9

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The Adjusted Trial Balance For Sparrow Company At December 31 2024 Is Presented Below 0 Accounts Dobit Credit Canh 9 1 (37.27 KiB) Viewed 38 times

The adjusted trial balance for Sparrow Company at December 31, 2024 is presented below. 0 Accounts Dobit Credit Canh $ 9.000 Prepaid rent 20,000 Land 410,000 Accounts payable $ 12,000 Salaries payable 14,000 Common stock 220.000 Retained earnings 115,000 Dividends 14,000 Service revenue 320,000 Salaries expense 170,000 Rent expense 29,000 Utilities expense 29,000 Totals $ 681,000 $ 681,000 Prepare the closing entries for Sparrow Company for the year ended December 31, 2024. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 2 3 1 Record the entry to close the revenue accounts. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2024