Create a journal entry for expense closing enteries.

Time period: 3 months

Entry number

HBS073

This journal entry have 13 accounts

Income Statement Weeks 1-10 Total Revenue Rental Revenue Sales Revenue Cost of Goods Sold Gross Profit Wave GEAR $69,162 $32,862 $36,300 ($19,440) $49,722 Total Operating Expenses Advertising Expense ($38,970) ($4,560) Depreciation Expense ($3,000) Business License Expense ($180) Insurance Expense ($3,000) Office Supplies Expense Payroll Expense Rent Expense Repairs and Maintenance Utilities Expense ($600) ($10,400) ($13,500) ($2,850) ($880) Operating Income Other Income - Gain on Sale Interest Expense Earnings Before Taxes Income Taxes Net Income $10,752 $300 ($250) $10,802 ($1,675) $9,127