four journal entries required to close the books
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Use the following T-accounts to prepare the four
Transcribed Image Text:Debit
Credit
Accounts Receivable
Bal. 45,500
Fees Earned Revenue
Bal. 60,000
Commission Expense
Bal. 7,200
Supplies Expense
Bal.5,500
Wages Expense
Bal. 42,000
Dividends
Bal. 3,500
Retained Earnings
Bal. 51,00
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