TULULJ Other data not yet recorded at December 31: a. Insurance expired during the year, $8....

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TULULJ Other data not yet recorded at December 31: a. Insurance expired during the year, $8. b. Depreciation expense for the year, $7. c. Salaries and wages payable, $10. d. Income tax expense, $12. Required: Using the adjusted balances, prepare the closing journal entry for the year ended December 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in thousands, not in dollars (i.e., 10,000 should be entered as 10).) Answer is complete but not entirely correct. No A Transaction 1 Sales Revenue Insurance Expense General Journal Salaries and Wages Expense Supplies Expense Depreciation Expense Income Tax Expense Retained Earnings Debit Credit 128 8 39 45 7 12 33 Return 1 TULULJ Other data not yet recorded at December 31: a. Insurance expired during the year, $8. b. Depreciation expense for the year, $7. c. Salaries and wages payable, $10. d. Income tax expense, $12. Required: Using the adjusted balances, prepare the closing journal entry for the year ended December 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in thousands, not in dollars (i.e., 10,000 should be entered as 10).) Answer is complete but not entirely correct. No A Transaction 1 Sales Revenue Insurance Expense General Journal Salaries and Wages Expense Supplies Expense Depreciation Expense Income Tax Expense Retained Earnings Debit Credit 128 8 39 45 7 12 33 Return 1

Answer rating: 100% (QA)

Based on the information provided the closing journal entry for the year ended Dec... View the full answer