Selected accounts for Lees Salon at December 31, 2024, are presented below Instructions a Prepare closing entries to close the accounts b Post the entries A Lee, Capital Dr Salaries Expense Dr Cr 21,000 Cr 30,000 A Lee, Drawings Dr 2,000 Dr Rent Expense 6,000 Cr Cr Service Revenue Dr Supplies Expen...

a b Dec 31 Service Revenue Income Summary To close revenue accoun ...

Selected accounts for Lees Salon at December 31, 2024, are presented below. Instructions a. Prepare closing entries

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Selected accounts for Lee’s Salon at December 31, 2024, are presented below.

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

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Accounting Principles Volume 1

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

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Selected accounts for Lees Salon at December 31, 2024, are presented below. Instructions a. Prepare closing entries

Question:

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

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a b Dec 31 Service Revenue Income Summary To close revenue accoun...View the full answer

Accounting Principles Volume 1

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