Question

Sco Question 1, Comprehensive Problem 4-1 (book/static) Miller Delivery Service completed the following transactions during December 2016: i (Click the icon to view the transactions.) Read the requirements. Requirement 8. Journalize the closing entries and post to the T-accounts. Begin by journalizing the closing entries. (Record debits first, then credits. Exclude explanations from journal entries.) Start by closing revenues. Review the Income Statement columns of the worksheet completed in Requirement 4 Debit Credit Accounts Date Dec. 31 Clos. (1) Choose from any list or enter any number in the input fields and then click Check Answer. parts remaining Clear All

Answer 1

Date	General Journal	Debit	Credit
Dec-31	Service revenue	$   21,150
	Income summary		$   21,150
	(To close revenue account)
Dec-31	Income summary	$     4,800
	Salaries expense		$     2,000
	Dep. Exp - Truck		$        250
	Insurance expense		$        250
	Fuel expense		$        300
	Rent expense		$     1,600
	Supplies expense		$        400
	(To close expenses)
Dec-31	Income summary ($21,150-$4,800)	$   16,350
	Retained earnings		$   16,350
	(To close income summary)

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