Answered step by step
Verified Expert Solution
Question
1 Approved Answer
4 OF 14 QUESTIONS REMAINING 54 minutes remaining Account Name Debit Credit Accounts Payable 26,000 Accounts Receivable 28,850 Cash 10.000 Common Stock 12,500 Cost of
4 OF 14 QUESTIONS REMAINING 54 minutes remaining Account Name Debit Credit Accounts Payable 26,000 Accounts Receivable 28,850 Cash 10.000 Common Stock 12,500 Cost of Goods Sold 68.000 Equipment 73,000 Interest Expense 150 interest Payable 500 Inventory 45,000 Note Payable 21,000 Retained Earnings Sales Revenue 51,000 1000 Supplies Expense 7.000 Wages Expense 60.000 Total 292,000 292,000 This is Green Co.'s Pre-Closing Trial Balance as of December 31, 2011. Green's accounting period is a month, thus the balances in the temporary accounts are for the month of December 2011. Note: The accounts are not listed in their normal sequence-rather they are listed in alphabetical sequence. Question: Prepare the journal Entry to close the Revenue accounts. Omit the explanation. Account Debit Credit Dec 31 Blank 1 Blank 2 Blank 3 Blank 4 Blank 1 Add your a Slank 2 Add your ar Blank 3 Add y Blank 4 Add your Lait saved 11:00 AM
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started