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All revenue and expense accounts have been closed at the end of the calendar year for Sunland Company. The Income Summary account has total debits
All revenue and expense accounts have been closed at the end of the calendar year for Sunland Company. The Income Summary account has total debits of $ and total credits of $ As of the same date, Owner's Capital has a balance of $ and Owner's Drawings has a balance of $ a Journalize the entries required to complete the closing of the accounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. Account Titles and Explanation Debit Credit To close net income to capital
All revenue and expense accounts have been closed at the end of the calendar year for Sunland Company. The Income Summary account has total debits of $ and total credits of $ As of the same date, Owner's Capital has a balance of $ and Owner's Drawings has a balance of $
a
Journalize the entries required to complete the closing of the accounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.
Account Titles and Explanation
Debit
Credit
To close net income to capital
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