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The ledger of Sunland Company contains the following balances: Owner s Capital $ 2 8 , 9 0 0 , Owner s Drawings

The ledger of Sunland Company contains the following balances: Owners Capital $28,900, Owners Drawings $2,100, Service Revenue $51,000, Salaries and Wages Expense $26,400, and Supplies Expense $7,100.


The closing entries are as follows:


(1)  Close revenue accounts.

(2) Close expense accounts.

(3) Close net income/(loss).

(4) Close drawings.


Enter the balances in T-accounts, post the closing entries in the order presented in the problem and use the numbers as a reference.


Salaries and Wages Expense

select an option

enter a debit amount

select an option

enter a credit amount

Supplies Expense

select an option

enter a debit amount

select an option

enter a credit amount

Service Revenue

select an option

enter a debit amount

select an option

enter a credit amount

Owners Drawings

select an option

enter a debit amount

select an option

enter a credit amount

Income Summary

select an option

enter a debit amount

select an option

enter a credit amount

select an option

enter a debit balance

select an option

enter a credit balance

Owners Capital

select an option

enter a debit amount

select an option

enter a credit amount

select an option

enter a debit amount

select an option

enter a credit amount

select an option

enter a debit balance

select an option

enter a credit balance


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