Selected accounts for Lee 's Salon at December 31, 2017 are presented below Instructions (a) Prepare closing entries to close the accounts (b) Post the entries A Lee, Capital Dr A Lee, Drawings Dr Revenues Cr Cr Dr Cr 30,000 2,000 50,000 Salaries Expense Dr 21,000 Rent Expense Dr Supplies Expense D...

a Dec 31 Revenues 50000 Income Summary 50000 31 Income ...

Selected accounts for Lee's Salon at December 31, 2017 are presented below. Instructions (a) Prepare closing entries

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Selected accounts for Lee's Salon at December 31, 2017 are presented below.

Instructions
(a) Prepare closing entries to close the accounts.
(b) Post the entries

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Accounting Principles

ISBN: 978-1119048503

7th Canadian Edition Volume 1

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak

Question Posted: May 16, 2017 10:05 AM

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Selected accounts for Lee's Salon at December 31, 2017 are presented below. Instructions (a) Prepare closing entries

Question:

A. Lee, Capital Dr. A. Lee, Drawings Dr. Revenues Cr. Cr. Dr. Cr. 30,000 2,000 50,000 Salaries Expense Dr. 21,000 Rent Expense Dr. Supplies Expense Dr. Cr. Cr. Cr. 6,000 7,000

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a Dec 31 Revenues 50000 Income Summary 50000 31 Income ...View the full answer

Accounting Principles

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