Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Need help putting data into T-Accounts Journal Entries DR 745,000 C1 117 6,000 Account Name Dr. Sales Revenue Dr. Interest Revenue Rent Revenue Loss on
Need help putting data into T-Accounts
Journal Entries DR 745,000 C1 117 6,000 Account Name Dr. Sales Revenue Dr. Interest Revenue Rent Revenue Loss on sale of equipment Cost of goods sold Cr. Depreciation Expense Cr. Amortization Expense Bad Debt Expense Salaries Expense Insurance Expense Sales return and allowance Income Tax Expense Income Summary To close the income statement accounts 4,000 35,820 10,000 3,000 13,640 384,000 25,500 1,300 2,000 271,857 Cr. C2 Dr. 8,000 Cr. Retained Earning Dividends To close the Dividends account 8,000 Check figures: Total debits should equal total credits. 759,117 759,117Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started