At April 1, 2020, Sandhill Company reported a balance of $19,600 in the Owner's Capital account....

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At April 1, 2020, Sandhill Company reported a balance of $19,600 in the Owner's Capital account. Sandhill Company earned revenues of $49,000 and incurred expenses of $31,360 during April 2020. The company had owner drawings of $9,800 during the month. (a) Prepare the entries to close Income Summary and the Owner's Drawings account at April 30, 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Date Account Titles and Explanation Apr. 30 Apr. 30 (To close net income to owner's capital.) (To close owner's drawings to owner's capital.) Debit Credit At April 1, 2020, Sandhill Company reported a balance of $19,600 in the Owner's Capital account. Sandhill Company earned revenues of $49,000 and incurred expenses of $31,360 during April 2020. The company had owner drawings of $9,800 during the month. (a) Prepare the entries to close Income Summary and the Owner's Drawings account at April 30, 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Date Account Titles and Explanation Apr. 30 Apr. 30 (To close net income to owner's capital.) (To close owner's drawings to owner's capital.) Debit Credit

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the journal entries to close the Income Summary and Owners Drawings accounts at April 30 2020 1 To c... View the full answer