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The following is the adjusted trial balance of Sierra Company. Sierra Company ...

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Accounting

The following is the adjusted trial balance of Sierra Company.

Sierra Company
Adjusted Trial Balance
December 31
Account Title Debit Credit
Cash $ 6,100
Prepaid insurance 610
Notes receivable (due in 5 years) 5,100
Buildings 22,200
Accumulated depreciationBuildings $ 13,100
Accounts payable 3,600
Notes payable (due in 3 years) 4,100
L. Sierra, Capital 12,700
L. Sierra, Withdrawals 1,220
Consulting revenue 10,600
Wages expense 4,600
Depreciation expenseBuildings 2,440
Insurance expense 1,830
Totals $ 44,100 $ 44,100

Prepare its December 31 closing entries.

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