From the following posted T accounts, reconstruct the closing journal entries for July 31,201X. M. Fitzgerald, Capital
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M. Fitzgerald, Capital Insurance Expense Withdrawals 1,700 5,000 (July 1) 250 Closing 250 1,000 Net Income M. Fitzgerald, Withdrawals Wage Expense 1,700 Closing 1,700 900 Closing 900 Rent Expense 1,400 Closing 1,400 Income Summary Expenses 2,800 Reene 3,800 Closing 1,000 Depreciation Expense, Equipment Salon Fees Closing 3,800 3,800 250|&sing250
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Date 201X Account Titles and Description PR Dr Cr Closing Entries July 31 Salon ...View the full answer
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