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Is my answer correct? Please help me figure out that choose 11/30, 11/30 Bal or close Journalize the closing entries. (Credit account titles are automatically
Is my answer correct? Please help me figure out that choose 11/30, 11/30 Bal or close
Journalize the closing entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tities and enter o for the amounts.) Date Account Titles and Explanation Debit Credit Nov. 30 Service Revenue 7728 Sales Revenue 6050 Income Summary 13778 (To close revenue accounts and other accounts with credit balances.) Nov. 30 Income Summary 10279 Sales Discounts Cost of Goods Sold 4400 Rent Expense 412 Salaries and Wages Expense 4015 Supplies Expense 1056 275 Depreciation Expense (To close expense accounts and other accounts with debit balances.) Nov. 30 Income Summary 3499 Retained Earnings 3499 (To dose income summary:) Retained Earnings 11/1 Bal. 7,700 11/30 3499 11/30 Bal. A 11199 Service Revenue 11/30 7728 11/22 2,530 11/29 770 Adj. 4,428 Depreciation Expense 275 11/30 Adj. A 275 Supplies Expense Adi. 1,056 11/30 1056 Salaries and Wages Expense 2,035 11/30 11/8 4015 11/29 1,430 Adj. 550 Rent Expense 11/29 412 412 11/30 11/30 412 412 Sales Revenue 11/30 4 6050 11/12 6,050 Cost of Goods Sold 4,400 11/30 11/12 $ 4400 Sales Discounts 121 11/30 11/19 121 Income Summary 11/30 10279 11/30 13778 11/30 11/30 3499Step by Step Solution
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