Question

Selected year-end account balances from the adjusted trial balance as of December 31, 2025, for Pronghorn Corporation is provided below. Debit Credit Accounts Receivable $76,960 Dividends 27,880 Depreciation Expense 13,990 Equipment 225,570 Salaries and Wages Expense 96,570 Accounts Payable $56,180 Accumulated Depreciation-Equipment 121,690 Unearned Rent Revenue 24.270 Service Revenue 194,830 Rent Revenue 6,570 Rent Expense 3,820 Retained Earnings 65,510 Supplies Expense 1,480 Prepare closing entries. (List all debit entries before credit entries. Credit account titles are automatically Indented when the 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.) Date Account Titles and Explanation Debit Credit Dec. 31 (To close revenue accounts) Dec. 31 (To close expense accounts) Dec. 31 (To close net income to retained earnings) Dec. 31 (To close dividends to retained earnings)

          Selected year-end account balances from the adjusted trial balance as of December 31, 2025, for Pronghorn Corporation is provided
below.
Debit
Credit
Accounts Receivable
$76,960
Dividends
27,880
Depreciation Expense
13,990
Equipment
225,570
Salaries and Wages Expense
96,570
Accounts Payable
$56,180
Accumulated Depreciation-Equipment
121,690
Unearned Rent Revenue
24.270
Service Revenue
194,830
Rent Revenue
6,570
Rent Expense
3,820
Retained Earnings
65,510
Supplies Expense
1,480
Prepare closing entries. (List all debit entries before credit entries. Credit account titles are automatically Indented when the 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.)
Date Account Titles and Explanation
Debit
Credit
Dec. 31
(To close revenue accounts)
Dec. 31
(To close expense accounts)
Dec. 31
(To close net income to retained earnings)
Dec. 31
(To close dividends to retained earnings)

Selected year-end account balances from the adjusted trial balance as of December 31, 2025, for Pronghorn Corporation is provided
below.
Debit
Credit
Accounts Receivable
76,960
Dividends
27,880
Depreciation Expense
13,990
Equipment
225,570
Salaries and Wages Expense
96,570
Accounts Payable56,180
Accumulated Depreciation-Equipment
121,690
Unearned Rent Revenue
24.270
Service Revenue
194,830
Rent Revenue
6,570
Rent Expense
3,820
Retained Earnings
65,510
Supplies Expense
1,480
Prepare closing entries. (List all debit entries before credit entries. Credit account titles are automatically Indented when the 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.)
Date Account Titles and Explanation
Debit
Credit
Dec. 31
(To close revenue accounts)
Dec. 31
(To close expense accounts)
Dec. 31
(To close net income to retained earnings)
Dec. 31
(To close dividends to retained earnings)

Added by Natalie L.

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