Question
On December 31, 20X1, the Income Statement section of the worksheet is shown below. The balance of Ally Logan's drawing account Is $28,000. INCOME
On December 31, 20X1, the Income Statement section of the worksheet is shown below. The balance of Ally Logan's drawing account Is $28,000. INCOME STATEMENT COLUMNS ACCOUNT NAME DEBIT CREDIT Income Summary $ 59,000 $ 65,000 Sales 230,000 Sales Returns and Allowances 5,700 Interest Incone 720 Purchases 83,000 Freight In 3,500 Purchases Returns and Allowances 2,500 Purchases Discounts 3,100 Sales Salaries Expense. 49,000 Office Salaries Expense) 19,700 Office Supplies Expense 820 Utilities Expense 4,700. Payroll Taxes Expense Uncollectible Accounts Expense 2,300 2,400 Depr. Expense Totals Net Incone Office Equipment 700 230,820 301,320 70,500 $301,320 $301, 320 Prepare the closing entries that should be made in the general journal
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