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Use the following account balances from the adjusted trial balance of Flora Wholesalers Account Cash Accounts receivable Accounts payable H. Jones, Capital H. Jones, Drawing
Use the following account balances from the adjusted trial balance of Flora Wholesalers Account Cash Accounts receivable Accounts payable H. Jones, Capital H. Jones, Drawing Fees revenue Advertising expense Travel expense Shipping expense Computer software expense Debit Credit Balance Balance $ 4,600 $ 230 $ 1,100 $ 3,400 $ 900 $ 13,400 $ 7,800 $ 4,200 $ 260 $ 390 Which of the following would be the first entry in the closing process for Flora Wholesalers? 1 Which of the following would be the first entry in the closing process for Flora Wholesalers? Multiple Choice Account Name Debit Credit Income summary 13,400 Fees revenue 13,400 Account Name Debit Credit Fees revenue 13,400 Income summary 13,400 Account Name - Debit Credit H. Jones, Capital 900 H. Jones, Drawing 900 Account Name Debit 900 Credit H. Jones, Drawing H. Jones, Capital 900
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