After all adjusting entries have been made on December 31, the end of the year, the following balances are taken from the ledger of Luna Service Company: Luna, Capital $349,000 Luna, Drawing 6,000 Fees Earned 124,600 Wages Expense 43,000 Rent Expense 29,000 Supplies Expense 7,300 Miscellaneous Expense 5,700 ​ Journalize the two entries required to close the accounts

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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After all adjusting entries have been made on December 31, the end of the year, the following balances are taken from the ledger of Luna Service Company:

Luna, Capital

$349,000

Luna, Drawing

6,000

Fees Earned

124,600

Wages Expense

43,000

Rent Expense

29,000

Supplies Expense

7,300

Miscellaneous Expense

5,700

Journalize the two entries required to close the accounts

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