QUESTION $$

ANSWER

Smith Chiropractic has a debit balance in Rent Expense of $$200$ for the period. What would be the journal entry to close the account?

$\backslash$table$[[$Date$,$Accounts,Debit,Credit$],[,\backslash$table$[[$Smith$,$ Capital$],[$Rent Expense$]],200,]]$

$\backslash$table$[[$Date$,$Accounts,Debit,Credit$],[,\backslash$table$[[$Rent Expense$],[$Income Summary$]],200,200]]$

$\backslash$table$[[$Date$,$Accounts,Debit,Credit$],[,\backslash$table$[[$Rent Expense$],[$Smith Capital$]],200,200]]$

$\backslash$table$[[$Date$,$Accounts,Debit,Credit$],[,\backslash$table$[[$Income Summary$],[$Rent Itxpense$]],200,200]]$QUESTION $$

ANSWER

Smith Chiropractic has a debit balance in Rent Expense of $$200$ for the period. What would be the journal entry to close the account?

$\backslash$table$[[$Date$,$Accounts,Debit,Credit$],[,\backslash$table$[[$Smith$,$ Capital$],[$Rent Expense$]],200,]]$

$\backslash$table$[[$Date$,$Accounts,Debit,Credit$],[,\backslash$table$[[$Rent Expense$],[$Income Summary$]],200,200]]$

$\backslash$table$[[$Date$,$Accounts,Debit,Credit$],[,\backslash$table$[[$Rent Expense$],[$Smith Capital$]],200,200]]$

$\backslash$table$[[$Date$,$Accounts,Debit,Credit$],[,\backslash$table$[[$Income Summary$],[$Rent Itxpense$]],200,200]]$