Ch. 4 – The Accounting CycleFor the year ended December 31, 2020, prepare the Financial Statements, Closing Journal Entries, update the T-Accounts, and prepare the Post-Closing Trial Balance.M4 Engineering, Inc. Adjusted Trial Balance 12/31/2020Account Name Debit CreditCash 15,000Accounts Receivable 10,000Supplies 750Building 100,000Accum. Depreciation 15,450Accounts Payable 5,000Notes Payable 12,000Common Stock 25,000Retained Earnings 17,500Dividends 3,000Fees Earned 80,000Depreciation Expense 2,000Rent Expense 18,000Utility Expense 6,200Totals 154,950 154,950
