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Prepare the required closing entries for the following selected accounts from the records of South West Transport Inc. at December 31, 2020 (amounts in thousands):
Prepare the required closing entries for the following selected accounts from the records of South West Transport Inc. at December 31, 2020 (amounts in thousands): Cost of services sold. $11,600 Service revenue $23,600 Accumulated depreciation 17,800 Depreciation 4,100 expense..... Selling, general, and administrative 6,900 Other revenue 600 expense Income tax 400 expense Retained earnings, December 31, 1,900 Dividends 2019 400 Income tax payable 300 DATE JOURNAL ENTRIES DETAIL AMT(DR) AMT(CR)
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