The following T-accounts contain the December postings to the general ledger of Swoops, Inc. The December 1
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Recreate the closing journal entries made by Swoops on December 31.
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Serce Revenue 12131 75,000 12/1 12/8 12/24 12/30 64,000 4,000 3,000 4,000 Salaries Expense 15,000 2/31 12/1 12/15 12/30 17,000 1,000 1,000 Supplies Expense 12/1 1,800 12/31 2,500 12/30 700 Depreciation Expense 12/1 4,400 12131 4,800 12/30 400 Interest Expense 12/1 1,500 12/31 1,800 12/24 300 Retained Earnings 2,50012/1 26,100 12/31 Dividends 2,000 12/31 12/31 51,550 12/31 75,000 12/1 2,500 12/15 500
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