Use the following account balances from the adjusted trial balance of Gees Catering: Account Debit Balance Credit Balance 12,500 Cash Accounts payable R. Gees, Capital R. Gees, Drawing 1,000 Fees revenue Salary expense Rent expense 7,000 2,000 16,300 13,000 6,700 Supplies expense 6,000 Select the correct closing entry that Gees Catering would make to close their revenue account(s) at the end of the accounting period.

College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter10: Accounting For Sales And Cash Receipts
Section: Chapter Questions
Problem 7SEB: JOURNALIZING SALES RETURNS AND ALLOWANCES Enter the following transactions starting on page 60 of a...
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Accounting 

Use the following account balances from the adjusted trial balance of Gees Catering:
Account
Debit Balance Credit Balance
12,500
Cash
Accounts payable
R. Gees, Capital
R. Gees, Drawing 1,000
Fees revenue
Salary expense
Rent expense
7,000
2,000
16,300
13,000
6,700
Supplies expense 6,000
Select the correct closing entry that Gees Catering would make to close their revenue account(s) at the end of the
accounting period.
Transcribed Image Text:Use the following account balances from the adjusted trial balance of Gees Catering: Account Debit Balance Credit Balance 12,500 Cash Accounts payable R. Gees, Capital R. Gees, Drawing 1,000 Fees revenue Salary expense Rent expense 7,000 2,000 16,300 13,000 6,700 Supplies expense 6,000 Select the correct closing entry that Gees Catering would make to close their revenue account(s) at the end of the accounting period.
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