Question
The income statement for Bridgeport Golf Club for the month ending July 31 shows service revenue $16,400, Salaries and Wages Expense $8,900, Maintenance and Repairs
The income statement for Bridgeport Golf Club for the month ending July 31 shows service revenue $16,400, Salaries and Wages Expense $8,900, Maintenance and Repairs Expense $2,000, and Net Income $5,500.
Prepare the entries to close the revenue and expense accounts. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Help me complete the income summary section please
Date: July 31 Account titles and explanation:income summary
Debit:
Credit:
Account titles and explanation:salaries and wages expense
Debit:
Credit: 8900
Account titles and explanation:maintenance and repairs expense
Debit:
Credit: 2000 (To close expense accounts)
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