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QS 3-18 (Algo) Preparing closing entries from the ledger LO P6 The ledger of Mai Company includes the following accounts with normal balances as of

QS 3-18 (Algo) Preparing closing entries from the ledger LO P6

The ledger of Mai Company includes the following accounts with normal balances as of December 31: Common Stock $10,900; Dividends $1,750; Services Revenue $32,000; Wages Expense $17,900; and Rent Expense $5,400.

Prepare its December 31 closing entries.

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