QUESTION 12 Account Name _ Debit_ _ Credit_ Accounts Payable 26,000 Accounts Receivable 28,850 Cash 10,000 Common
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QUESTION 12
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Account Name
_Debit_
_Credit_
Accounts Payable
26,000
Accounts Receivable
28,850
Cash
10,000
Common Stock
12,500
Cost of Goods Sold
68,000
Equipment
73,000
Interest Expense
150
Interest Payable
500
Inventory
45,000
Note Payable
21,000
Retained Earnings
53,000
Sales Revenue
179,000
Supplies Expense
7,000
Wages Expense
60,000
Total
292,000
292,000
Thisis Green Co.'s Pre-Closing Trial Balance as of December 31, 2011. Green's accounting period is month, thus the balances in the temporary accounts are for the month of December 2011. Note: The accounts are not listed in their normal sequence -- rather they are listed inalphabetical sequence.
Question:Prepare the Journal Entry to close the Expense accounts. Omit the explanation.
Account Debit Credit Dec31
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