Goldfinger Corporation had account balances at the end of the current year as follows: sales revenue, $29,000; cost of goods sold, $12,000; operating expenses, $6,200; and income tax expense, $4,320. Assume shareholders owned 4,000 shares of Goldfingers common stock during the year.

General Journal Prepare Goldfinger's closing entries on December 31. PAGE 1 GENERAL JOURNAL DATE POST. REF. DEBIT CREDIT ACCOUNT TITLE Closing Entries 1 2 3 4 5 6 7 8 9