Question: Assignment 1: Based on the data below, close out the revenue, expense, income summary, and drawing accounts Service Fees = $100,000 Rent Expense = $10,000

Assignment 1: Based on the data below, close out the revenue, expense, income summary, and drawing accounts Service Fees = $100,000 Rent Expense = $10,000 Wage Expense = $20,000 Utilities Expense = $12,000 Supplies Expense = $1000 Insurance Expense - $1000 Depreciation Expense = $4000 Drawing = $1000

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