On December 31, 2013, the ledger of Davis Company contained the following account balances: All the accounts
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All the accounts have normal balances. Journalize the closing entries. Use 4 as the general journal page number.
Transcribed Image Text:
$32,000 Cash Accounts Receivable Supplies $25,000 48,750 2,250 Mesia Davis, Drawing 2,400 Fees Income 1,600 Depreciation Expense Equipment Accumulated Depreciation Accounts Payable Mesia Davis, Capital 25,000 Salaries Expense Supplies Expense 16,000 2,500 2.100 4,150 2,000 2,500 Telephone Expense 47,250 Utilities Expense
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Journalizing the dosing entries requires four step processes 1 Transfer revenue accou...View the full answer
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Related Book For
College Accounting A Contemporary Approach
ISBN: 978-0073396958
2nd edition
Authors: David Haddock, John Price, Michael Farina
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