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Create closing entries for the following: Income Statement Adjusted Trial Balance Dr Cr Account Dr Cr Retained Earnings 1,321 Dividends 600 Income Summary Fees Earned
Create closing entries for the following:
Income Statement Adjusted Trial Balance Dr Cr Account Dr Cr Retained Earnings 1,321 Dividends 600 Income Summary Fees Earned 15,090 15,090 Gain (or Loss) on Sale Sales 1,860 1,860 Cost of Merchandise Sold 1,016 1,016 Salaries Expense 5,700 5,700 Rent Expense 2,100 2,100 Supplies Expense 260 260 Depreciation Expense 40 40 Insurance Expense 275 275 Utilities Expense 525 525 Advertising Expense 110 110 Leagal Expense Miscellaneous Expense 64,955 64,955 10,026 16,950 Net Income 6,924Step by Step Solution
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