Prepare closing entries for December without explanation from the following Income Statement columns of the work sheet
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Question:
Prepare closing entries for December without explanation from the following Income Statement columns of the work sheet of Custom Cleaning Service, assuming that a $500 withdrawal was made during the period.
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| Debit | Credit |
Cleaning Revenue |
| 2,600 |
Wages Expense | 1,200 |
|
Rent Expense | 400 |
|
Supplies Expense | 300 |
|
Insurance Expense | 40 | _____ |
| 1,940 | 2,600 |
Net Income | 660 | _____ |
| 2,600 | 2,600 |
| General Journal |
| Page 1 | |
Date | Description | Post. Ref. | Debit | Credit |
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Related Book For
College Accounting
ISBN: 978-1111528126
11th edition
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille
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