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Tomorri Co. had the following temporary account balances on December 31, 2020. Debit Credit Account Titles Rent Revenue 9,100 4,020 Supplies Expense Interest Expense 1012
Tomorri Co. had the following temporary account balances on December 31, 2020. Debit Credit Account Titles Rent Revenue 9,100 4,020 Supplies Expense Interest Expense 1012 5,300 Depreciation Expense Dividends 1600 Required: Prepare closing entries at December 31, 2020. SOLUTION 1. Journal entry to close REVENUES Date Account Titles Debit Credi Choose... Choose... - Dec. 31 Choose... Choose... 2. Journal entry to close EXPENSES (Important: List expense accounts in the same order as they appear in the list above!) Date Account Titles Debit Credi Choose... Choose.... Choose... Choose... . Dec. 31 Choose... Choose... > Choose... Choose... 3. Journal entry to close INCOME SUMMARY Date Account Titles Debit Credi Choose... Choose.... Dec. 31 Choose... Choose... 4. Journal entry to close DIVIDENDS Date Account Titles Debit Credit
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