WildhorseCompany shows the following balances in selected accounts of its adjusted trial balance.

Supplies

$30,600Service Revenue$120,000Supplies Expense

6,700Salaries and Wages Expense40,300Accounts Receivable

13,000Utilities Expense8,300Owner's Drawings20,600Rent Expense17,500Owner's Capital77,000

Journalize the closing entries at December 31.(Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date

Account Titles and Explanation

Debit

Credit

Dec. 31enter 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. 31enter 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

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. 31enter an account title to close net income / (loss) on December 31

enter a debit amount

enter a credit amount

enter an account title to close net income / (loss) on December 31

enter a debit amount

enter a credit amount

(To close net income / (loss))

Dec. 31enter an account title to close drawings on December 31

enter a debit amount