Question

Score: 0 of 4 pts 1 of 6 (0 complete) HW Score: 0% 0 of 25 pls S4-10 (book/static) Question Brett Teddy Enterprises had the following accounts and normal balances ned on its December 31st adused trial balance Service Revenue, 521,900 Sales Expense, 56,000, Rent Expense. 54.400 Advertising Expense, 53, 100, and Dividends, 56.900 Joumalize the closing entries for Teddy Enterprises (Record debts fast then credits Select the explanation on the last line of the journal entry table) Start by closing revenues Date Accounts and Explanation Debit Cro Dec 31 Choose from any list or enter any number in the input fields and then click CheckAnswer Check Answer Clear All

Answer 1

closing Entries are as follows Accounts & Explanation Debit at credit 31-Dec 21,900 service Revenue ALC Income Summary Alc io Record service Revenue) 21,900 . 13500 Income Summary Al salaries ALC Rent Al 6000 4400 Advertising 3100 (To Record salaries, rent, advertising). Income Summcing A/C 8.400 (21900-1350,0) Retained Earnings (To Record Retained Earnings) " Dividends paid AlC 6 900 Retained Earnings (to record dinidends paid transfer). 6900

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