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Close revenue , expense , income sum accounts and give income statement in proper form for following entries. EVENT ACCOUNT TITLE Cash Service Revenue DEBIT

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Close revenue , expense , income sum accounts and give income statement in proper form for following entries. EVENT ACCOUNT TITLE Cash Service Revenue DEBIT CREDIT $1,000 $1,000 $500 Supplies Accounts Payable $500 $200 Wages Expense Cash $200 $100 Supplies Expense Supplies $100 $500 Inventory Accounts Payable $500 $1.000 Cash Sales $1,000 $500 Cost of Goods Sold Inventory $500 $800 Equipment Accounts Payable $800 $400 $600 Cash Accumulated Depreciation Equipment Gain on Sale of Equipment $800 $200

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