Imges From the following T accounts, journalize the closing entries dated December 31 for Baylor Company. If an amount box does not require an entry, leave it blank.Salary ExpenseH. Baylor, Drawing+64,45054,240Purchases Returns and AllowancesPurchases8,590235,790Miscellaneous ExpenseRent Expense+13,13021,000Sales Returns and AllowancesFreight In7,19011,690SalesIncome Summary87,440 | 103,850502,860H. Baylor, CapitalPurchases Discounts335,2504,860 GENERAL JOURNALPAGEDATEDESCRIPTIONDOC. NO.POST. REF.DEBITCREDIT20--Closing EntriesDec. 31Dec. 31Dec. 31

Journal entry is the process of documenting commercial transactions for the first time in the books…

From the following T accounts, journalize the closing entries dated December 31 for Baylor Company. If an amount box does not require an ent Salary Expense H. Baylor, Drawing 64,450 54,240 Purchases Returns and Allowances Purchases 8,590 235,790 Miscellaneous Expense Rent Expense

From the following T accounts, journalize the closing entries dated December 31 for Baylor Company. If an amount box does not require an ent Salary Expense H. Baylor, Drawing 64,450 54,240 Purchases Returns and Allowances Purchases 8,590 235,790 Miscellaneous Expense Rent Expense

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter14: Accounting For Uncollectible Accounts Receivable

Section: Chapter Questions

Problem 1AP

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Question

Imges

From the following T accounts, journalize the closing entries dated December 31 for Baylor Company. If an amount box does not require an entry, leave it blank.
Salary Expense
H. Baylor, Drawing
+
64,450
54,240
Purchases Returns and Allowances
Purchases
8,590
235,790
Miscellaneous Expense
Rent Expense
+
13,130
21,000
Sales Returns and Allowances
Freight In
7,190
11,690
Sales
Income Summary
87,440 | 103,850
502,860
H. Baylor, Capital
Purchases Discounts
335,250
4,860

GENERAL JOURNAL
PAGE
DATE
DESCRIPTION
DOC. NO.
POST. REF.
DEBIT
CREDIT
20--
Closing Entries
Dec. 31
Dec. 31
Dec. 31

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