Problem: The following is the Bravo Unlimited adjusted Trial Balance.
Bravo Unlimited Adjusted Trial Balance December 31, 2016
|
Account Title
|
Debit
|
Credit
|
|
Cash
|
$88,450
|
|
|
Accounts Receivable
|
331,860
|
|
|
Supplies
|
13,255
|
|
|
Prepaid Rent
|
10,500
|
|
|
Equipment
|
295,285
|
|
|
Accumulated Depreciation
|
|
$236,760
|
|
Accounts Payable
|
|
75,555
|
|
Wages Payable
|
|
14,000
|
|
Capital Stock
|
|
220,000
|
|
Retained Earnings
|
|
111,145
|
|
Service Revenue
|
|
900,105
|
|
Interest Income
|
|
1,500
|
|
Rent Expense
|
64,000
|
|
|
Wages Expense
|
541,260
|
|
|
Supplies Expense
|
42,520
|
|
|
Utilities Expense
|
8,595
|
|
|
Depreciation Expense
|
156,500
|
|
|
Interest Expense
|
6,840
|
|
|
Totals
|
$1,559,065
|
$1,559,065
|
Required: Prepare the general journal entry (without explanation) needed to close the revenue(s) for the year end. Use compound entries where required. If no entry is required then write "No Entry Required."