Question: What would the answers be? Exercise 4-15 (Algo) Preparing closing entries for a merchandiser LO P3 The following list includes temporary accounts from the December




Exercise 4-15 (Algo) Preparing closing entries for a merchandiser LO P3 The following list includes temporary accounts from the December 31 adjusted trial balance of Emiko Company. Use these normal account balances to journalize closing entries. Dividends $ 35,000 Sales 537,000 Sales returns and allowances 17,900 Sales discounts 5,200 Cost of goods sold 216,000 Sales salaries expense 50,000 Utilities expense 16,000 Selling expenses 37,000 Administrative expenses 107,000 View transaction list Journal entry worksheet 2 3 Record closing of credit balances in temporary accounts. Note: Enter debits before credits General Journal Debit Credit Date Dec 31 Utilities expense Selling expenses Administrative expenses wwwy 16,000 37,000 107,000 View transaction list Journal entry worksheet
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