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 Summary 281,000 Service Revenue 281,000 В. Automobile Expense 17,000 Insurance Expense 26,000 Salaries Expense 191,000 Supplies Expense 18,800 Income Summary 252,800 С. Retained Earnings 263,000 Income Summary 263,000 D. Dividends 14,000 Retained Earnings 14,000 If an amount box does not require an entry, leave it blank.

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 Summary 281,000 Service Revenue 281,000 В. Automobile Expense 17,000 Insurance Expense 26,000 Salaries Expense 191,000 Supplies Expense 18,800 Income Summary 252,800 С. Retained Earnings 263,000 Income Summary 263,000 D. Dividends 14,000 Retained Earnings 14,000 If an amount box does not require an entry, leave it blank.

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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28. Kindly answer below:
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