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#2 (2 pts.) The general ledger of Ace Ventura, Inc. includes the following accounts (with normal balances): a. Sales revenue $100,000 b. Rent revenue $20,000
#2 (2 pts.) The general ledger of Ace Ventura, Inc. includes the following accounts (with normal balances): a. Sales revenue $100,000 b. Rent revenue $20,000 c. Cost of good sold $80,000 d. Salaries expense $20,000 e. Tax expense $5,000 f. Owner's withdrawal $3,000 Record closing entries. Close revenues, expense, and withdrawals separately. (a close revenues, b. close expenses, c. close income summary, d. close withdrawals) Accounts Debits Credits a. b. c. d
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