At the end of the financial year, prepare the general journal to close out the ledger accounts
Question:
At the end of the financial year, prepare the general journal to close out the ledger accounts to the trading account in the general ledger. Post the journal to the T accounts shown in figure 9.9.
Transcribed Image Text:
Inventory Balance [opening] 2000 Balance Customs Duty 600 Balance Balance Trading Purchases 15 000 Freight Inwards 400
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Here are the closing journal entries presented in a table format Date ...View the full answer
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Related Book For
Accounting An Introduction To Principles And Practice
ISBN: 9780170403832
9th Edition
Authors: Edward A. Clarke, Michael Wilson
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