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Financial Accounting

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Post-Closing Trial Balance: Total Debits and Credits

FINACT-YCJVR0

Red Brick Road Company provides the following information at year-end:

Account Titles Adjusted Trial Balance
Debits Credits
Cash \$12,400
Accounts Receivable 93,000
Prepaid Insurance Expense 5,000
Inventory 11,500
Equipment 45,000
Accumulated Depreciation - Equipment \$10,000
Accounts Payable 4,800
Unearned Revenue 8,000
Common Stock 35,000
Retained Earnings 113,700
Sales Revenue 87,500
Dividend Revenue 2,710
Salaries Expense 29,800
Cost of Goods Sold 50,450
Rent Expense 2,850
Depreciation Expense 5,000
Income Tax Expense 5,760
Interest Expense 950
Totals \$261,710 \$261,710


What is the total of debits and credits that will be reported on Red Brick Company’s Post Closing Trial Balance after the closing entry is made?