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Prepare the necessary closing entries Credit $ Debit 9.400 25,000 36,000 900 75,000 $ 60,000 22,000 Cash Accounts receivable Merchandise inventory Office supplies Store equipment
Prepare the necessary closing entries
Credit $ Debit 9.400 25,000 36,000 900 75,000 $ 60,000 22,000 Cash Accounts receivable Merchandise inventory Office supplies Store equipment Accumulated depreciation - store equipment Office equipment Accumulated depreciation - office equipment Accounts payable Notes payable D. Construction, Capital D. Construction Withdrawals Sales Sales discounts Sales returns and allowances Cost of goods sold Sales salaries expense Depreciation expense - store equipment Depreciation expense - office equipment Office supplies expense Interest expense Totals 15,000 42,000 10,000 110,700 48,000 320,000 5,000 18,500 189,000 33,500 12,000 6,500 400 500 519,700 $ $ 519,700 Step by Step Solution
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