Closing Entries with Net Loss Imex Services Co. offers its services to individuals desiring to improve their personal images. After the accounts have been adjusted at July 31, the end of the fiscal year, the following balances were taken from the ledger of Imex Services Co. Margo Hoskins, Capital $660,000 Margo Hoskins, Drawing 41,000 Fees Earned 297,000 Wages Expense 260,700 Rent Expense 62,000 Supplies Expense 15,200 Miscellaneous Expense 7,300

Imex Services Co. offers its services to individuals desiring to improve their personal images. After the accounts have been adjusted at July 31 the end of the fiscal year, the following balances were taken from the ledger of Imex Services Co. Margo Hoskins, Capital Margo Hoskins, Drawing Fees Earned Wages Expense Rent Expense Supplies Expense Miscellaneous Expense $660,000 1,000 297,000 260,700 62,000 15,200 7,300 Hoskins, Dra 7,300 Hide Journalize the four entries required to close the accounts. For a compound transaction, if an amount box does not require an entry, leave it blank or enter "O". entries required to dlose accounts. compound tr ransaction, i t blank or entry, leave it Close revenues revenues Close expenses Close net incomeet loss Close drawing