Problem

The following account balances were taken from Cal Tour Corporation’s year-end adjusted tr...

The following account balances were taken from Cal Tour Corporation’s year-end adjusted trial balance (assume these are the company’s only temporary accounts):

Consulting fees earned

 $26,000

Interest revenue

300

Insurance expense

1,900

Rent expense

10,800

Depreciation expense: office equipment

5,600

Salaries expense .

16,400

Dividends

400

 Prepare the company’s necessary closing entries.

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