Correct any obvious errors in the following closing entries by providing the four corrected closing entries. Assume all accounts held normal account balances in the Adjusted Trial Balance.А.Income Summary285,000Service Revenue285,000В.Automobile Expense16,700Insurance Expense29,000Salaries Expense195,000Supplies Expense18,600Income Summary259,300C.Retained Earnings263,000Income Summary263,000D.Dividends12,000Retained Earnings12,000If an amount box does not require an entry, leave it blank.А.В.C.D.

Answered: Correct any obvious errors in the…

Correct any obvious errors in the following closing entries by providing the four corrected closing entries. Assume all accounts held normal account balances in the Adjusted Trial Balance. 20E 000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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