prepare journal entry to close the INCOME SUMMARY ACCOUNT & THE WITHDRAWALS ACCOUNT

Task III. CLOSING THE ACCOUNTS-25 points Given the following Adjusted Trial Balance, prepare closing entries. Cash 25 Accounts Receivable 10 Land Accounts Payable 60 Unearned Revenue 15 550 Capital Withdrawals Ticket Revenue 400 Popcorn Revenue 100 Rent Expense Supplies Expense 50 Telephone Expense 72 equired