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Brief Exercise 4-6 The income statement for whispering Winds Golf Club for the month ending July 31 shows Service Revenue $16,600, Salaries and Wages Expense
Brief Exercise 4-6 The income statement for whispering Winds Golf Club for the month ending July 31 shows Service Revenue $16,600, Salaries and Wages Expense $7,500, Maintenance and Repairs Expense $2,600, and Net Income 6,500 Prepare the entries to close the revenue and expense accounts. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit July 31 (To dose revenue account) July 31 (To dose expense accounts) Post the entries to the revenue and expense accounts, and complete the closing process for these accounts using the three-column form of account. Service Revenue Date Explanation Ref. 7/31 Balance 7/31 Closing entry Debit Credit Balance Salaries and Wages Expense Date Explanation Ref Debit 7/31 Balance 7/31 Closing entry Credit Balance Maintenance and Repairs Expense Date Explanation Ref Debit 7/31 Balance 7/31 Closing entry Click if you would like to Show Work for this question: Credit Balance
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