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Requirement 4. Journalize and post the closing entries at December 31, 2024. T-accounts for Income Summary and White, Capital have been opened for you
Requirement 4. Journalize and post the closing entries at December 31, 2024. T-accounts for Income Summary and White, Capital have been opened for you Determine the ending balance for each account Denote each closing amount as Clos and each account balance as Bal Begin by journalizing the closing entries at December 31, 2024. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Start by closing revenues Date: Dec 31 Clos (1) Close expenses for the period. Date Dec 31 Clos (2) Close Income Summary Date Dec. 31 Clos (3) Close withdrawals Date Dec 31 Accounts and Explanation Debit Credit Accounts and Explanation: Debit Credit Accounts and Explanation - Debit Credit Accounts and Explanation Debit Credit
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