The following adjusted trial balance is the result of the adjustments made at the end of the month of March for ErikMartin Company. Use these adjusted values to journalize the closing entries for Erik Martin Company. Cash 24,750
Accounts Receivable 5,750
Office Supplies 3,525
Store Supplies 4,785
Machinery 9,750
Accumulated Depreciation 2,150
Accounts Payable 3,550
Notes Payable 7,500
Erik Martin, Capital 19,725
Erik Martin, Drawing 6,250
Service Revenue 36,500
Wages Expense 6,425
Office Supplies Expense 1,465
Store Supplies Expense 5,150
Depreciation Expense 1,575
69,425 69,425

March 31, 202x, close revenue accounts

Dr Service revenue 36,500

    Cr Income summary 36,500

March 31, 202x, close expense accounts

Dr Income summary 14,615

    Cr Wages Expense 6,425

    Cr Office Supplies Expense 1,465

    Cr Store Supplies Expense 5,150

    Cr Depreciation Expense 1,575

March 31. 202x, close income summary account

Dr Income summary 21,885

    Cr Erik Martin, Capital 21,885

March 31, 202x, close drawing account

Dr Erik Martin, Capital 6,250

    Cr Erik Martin, drawing 6,250

you can put this in your 11 sentence summary

" most of the money would be invested in innovation, economic convergence."