List of Accounts Assistance Used Accounts Payable Accounts Receivable Accumulated Depreciation Building Accumulated Depreciation Equipment Administrative Expenses Admissions Revenue Advertising Expense Allowance for Doubtful Accounts Bad Debt Expense Buildings Cash Common Stock Cost of Goods Sold Current Maturity of Long Term Debt Delivery Expense Depreciation Expense Dividends Dues Revenue Equipment Green Fees Revenue Income Summary Income Tax Expense Insurance Expense Interest Expense Interest Payable Interest Receivable Interest Revenue Inventory Land Maintenance and Repairs Expense Mortgage Payable No Entry Notes Payable Notes Receivable Office Expense Owner's Capital Owner's Drawings Prepaid Advertising Prepaid Insurance Prepaid Rent Property Tax Expense Property Tax Payable Rent Expense Rent Receivable Rent Revenue Retained Earnings Salaries and Wages Expense Salaries and Wages Payable Sales Discounts Sales Returns and Allowances Sales Revenue Selling Expenses Service Revenue Subscription Revenue Supplies Supplies Expense Telephone and Internet Expense Utilities Expenses Unearned Admissions Revenue Unearned Dues Revenue Unearned Service Revenue Unearned Rent Revenue Unearned Subscriptions Revenue Current Attempt in Progress Presented below are selected account balances for Wildhorse Co as of December 31, 2020 Cost of Goods Sold Inventory 12 31 20 Common Stock Retained Earnings Dividends Sales Returns and Allowances Sales Discounts $58,920 74,150 45,400 17,830 12,068 15,010 417,740 Selling Expenses Administrative Expenses Income Tax Expense $224,039 16,031 37,726 29,720 Sales Revenue Prepare closing entries for Wildhorse Co on December 31, 2020 (Credit account titles are automatically indented when amount is entered Do not indent manually If no entry is required, select No entry for the account titles and enter O for the amounts ) No Account Titles and Explanation Debit Credit 1 (To close accounts with credit balances) 2 (To close accounts with debit balances) 3 (To close net income (loss)) 4 (To close dividends)

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List of Accounts Assistance Used Accounts Payable Accounts Receivable Accumulated Depreciation-Building Accumulated Depreciation-Equipment Administrative Expenses Admissions Revenue Advertising Expense Allowance for Doubtful Accounts Bad Debt

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List of Accounts

Assistance Used

Accounts Payable
Accounts Receivable
Accumulated Depreciation-Building
Accumulated Depreciation-Equipment
Administrative Expenses
Admissions Revenue
Advertising Expense
Allowance for Doubtful Accounts
Bad Debt Expense
Buildings
Cash
Common Stock
Cost of Goods Sold
Current Maturity of Long-Term Debt
Delivery Expense
Depreciation Expense
Dividends
Dues Revenue
Equipment
Green Fees Revenue
Income Summary
Income Tax Expense
Insurance Expense
Interest Expense
Interest Payable
Interest Receivable
Interest Revenue
Inventory
Land
Maintenance and Repairs Expense
Mortgage Payable
No Entry
Notes Payable
Notes Receivable
Office Expense
Owner's Capital
Owner's Drawings
Prepaid Advertising
Prepaid Insurance
Prepaid Rent
Property Tax Expense
Property Tax Payable
Rent Expense
Rent Receivable
Rent Revenue
Retained Earnings
Salaries and Wages Expense
Salaries and Wages Payable
Sales Discounts
Sales Returns and Allowances
Sales Revenue
Selling Expenses
Service Revenue
Subscription Revenue
Supplies
Supplies Expense
Telephone and Internet Expense
Utilities Expenses
Unearned Admissions Revenue
Unearned Dues Revenue
Unearned Service Revenue
Unearned Rent Revenue
Unearned Subscriptions Revenue

Current Attempt in Progress Presented below are selected account balances for Wildhorse Co. as of December 31, 2020. Cost of Goods Sold Inventory 12/31/20 Common Stock Retained Earnings Dividends Sales Returns and Allowances Sales Discounts $58,920 74,150 45,400 17,830 12,068 15,010 417,740 Selling Expenses Administrative Expenses Income Tax Expense $224,039 16,031 37,726 29,720 Sales Revenue Prepare closing entries for Wildhorse Co. on December 31, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts.) No. Account Titles and Explanation Debit Credit 1. (To close accounts with credit balances) 2. (To close accounts with debit balances) 3. (To close net income/(loss)) 4. (To close dividends)