The ledger of Cullumber Company contains the following balances: Owner$$s Capital $$29,300,$ Owner$$s Drawings $$1,600,$ Service Revenue $$52,000,$ Salaries and Wages Expense $$27,200,$ and Supplies Expense $$7,700.$

Prepare the closing entries at December $31.($Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

Date

Account Titles and Explanation

Debit

Credit

Dec. $31$

enter an account title to close revenue account on December $31$

enter a debit amount

enter a credit amount

enter an account title to close revenue account on December $31$

enter a debit amount

enter a credit amount

$($To close revenue account$)$

Dec. $31$

enter an account title to close expense accounts on December $31$

enter a debit amount

enter a credit amount

enter an account title to close expense accounts on December $31$

enter a debit amount

enter a credit amount

enter an account title to close expense accounts on December $31$

enter a debit amount

enter a credit amount

$($To close expense accounts$)$

Dec. $31$

enter an account title to close net income or loss on December $31$

enter a debit amount

enter a credit amount

enter an account title to close net income or loss on December $31$

enter a debit amount

enter a credit amount

$($To close net income$/($loss$))$

Dec. $31$

enter an account title to close drawings on December $31$

enter a debit amount

enter a credit amount

enter an account title to close drawings on December $31$

enter a debit amount

enter a credit amount

$($To close drawings$)$

eTextbook and Media

List of Accounts

Attempts: $0$ of $5$ used