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Additional Brief Exercise 176 Use the following income statement for the year 2015 for Belle Company to prepare entries to close the revenue and expense
Additional Brief Exercise 176 Use the following income statement for the year 2015 for Belle Company to prepare entries to close the revenue and expense accounts for the company. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Service revenue Expenses: $85,000 Salaries and Wages Expense Rent Expense Advertising Expense $40,000 12,500 ,70C 61,200 $23,800 Total expenses Net income (loss) Account Titles and Explanation Debit Credit To close revenue account.) To close expense account.)
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