Indicate the accounts to be debited and credited to record the selected closing entries described below by inserting the letter designations in the appropriate columns,

A. Accumulated Depreciation B. H. Black, Capital C. H. Black, Drawing D. Depreciation Expense E. Fees Earned F. Income Summary G. Salaries Expense H. Salaries Payable

(Sample) Close the salaries expense account Debit: H Credit: G

1-2 Close the depreciation expense account

3-4 Close the revenue account

5-6 Close the drawing account

7-8 Close the income summary account (assume net loss)