Bonita has year-end account balances of Sales Revenue $841,310, Interest Revenue $14,260, Cost of Goods Sold $531,407,
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Question:
Bonita has year-end account balances of Sales Revenue $841,310, Interest Revenue $14,260, Cost of Goods Sold $531,407, Administrative Expenses $181,980, Income Tax Expense $37,617, and Dividends $18,198. Prepare the year-end closing entries.(Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.)
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