Question: Question 34 What does Closing Entry #4 (close withdrawals) include, based on the trial balance below for the year ending December 31, 2018? Cash

Question 34 What does Closing Entry #4 (close withdrawals) include, based on

Question 34 What does Closing Entry #4 (close withdrawals) include, based on the trial balance below for the year ending December 31, 2018? Cash Account Accounts Receivable Trucks Accumulated Depreciation Accounts Payable Wages Payable K. Wilson, Capital K. Wilson, Withdrawals Trucking Fees Earned Wages Expense Depreciation Expense Other Expenses O Debit to K. Wilson, Capital for $20,000 O Debit to Income Summary for $20,000 O Credit to K. Wilson, Capital for $20,000 O Credit to income Summary for $20.000 Debit $ 96,000) 17,500 172,000 20,000 61,000 23,500 20,000 Credit $ 36,000 65,000 4,000 175,000 130,000 31

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