The Adjusted Trial Balance of Richardson Electric at May 31 $${ \begin{array} { c } \text { Richardsan Electric } \\\text { Trial Balance } \\\text { May 31, 2020 }\end{array} }$$

Essay

The adjusted trial balance of Richardson Electric at May 31, 2020 is as follows:
$${ \begin{array} { c } \text { Richardsan Electric } \\\text { Trial Balance } \\\text { May 31, 2020 }\end{array} }$$
$$\begin{array} { | l | r | r | } \hline & \text { Debit } & \text { Credit } \\\hline \text { Cash } & \$ 6,000 & \\\hline \text { Prepaid insurance } & 2,000 & \\\hline \text { Equipment } & 18,000 & \\\hline \text { Accurmulated depreciation, equiprnent } & & \$ 20,000 \\\hline \text { Salaries payable } & & 1,000 \\\hline \text { Mitch Richardson, capital } & & 12,700 \\\hline \text { Mitch Richardson, withdrawals } & 6,000 & \\\hline \text { Repair fees eamed } & & 11,800 \\\hline \text { Unearmed repair fees } & & 1,200 \\\hline \text { Insurarce expense } & 3,500 & \\\hline \text { Depreciation experse } & 11,200 & \\\hline \text { Total } & \$ 46,700 & \$ 46,700 \\\hline\end{array}$$ Prepare the necessary closing entries at May 31.