Provide journal entry for the following transaction: The following is taken from Adjusted Trial Balance of Company. Provide journal entry to close related revenue accounts. Accounts Debit Credit Sales Revenues 160,000 Sales Return 4,000 Interest Expense Cost of Goods Sold Salaries and Wages Expense Losses due to fire Dividends 5,000 80,000 40,000 8,000 10,000

Provide journal entry for the following transaction: The following is taken from Adjusted Trial Balance of Company. Provide journal entry to close related revenue accounts. Accounts Debit Credit Sales Revenues 160,000 Sales Return 4,000 Interest Expense Cost of Goods Sold Salaries and Wages Expense Losses due to fire Dividends 5,000 80,000 40,000 8,000 10,000

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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