After the accounts have been adjusted at December 31, the end of the fiscal year, the following
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After the accounts have been adjusted at December 31, the end of the fiscal year, the following balances were taken from the ledger of Magenta Delivery Services Co.:
Ellie Liu, Capital ................... $8,366,300
Ellie Liu, Drawing ........................ 70,000
Fees Earned ........................... 1,644,500
Wages Expense ..................... 1,239,200
Rent Expense ............................ 109,400
Supplies Expense ....................... 26,600
Miscellaneous Expense ............. 19,300
Journalize the two entries required to close the accounts.
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Related Book For
Accounting
ISBN: 9781337902687
28th Edition
Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider
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