Journalizing closing entries [10-15 min]
It is December 31 and time for you to close the books for Brett Tilman Enterprises.
Requirement
1. Journalize the closing entries for Brett Tilman Enterprises:
a. Service revenue, $20,600.
b. Make a single closing entry for all the expenses: Salary, $7,200; Rent, $4,500; Advertising, $3,400.
c. Income summary.
d. Dividends, $3,800.
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