The Cobbler Company shows the following revenue, expense and withdrawals account balances on 31 December of the current year, before closing:

Required:
Prepare closing entries.

Transcribed Image Text:

Account titles A. B. Cobbler, withdrawals Shoe service revenues Salaries expense Utilities expense Supplies expense Rent expense Depreciation expense Debits $1 750 2300 226 147 550 28 Credits $4 830