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Boxford Auto Repair had the following account balances after adjustments. Assume all accounts had normal...

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Accounting

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Boxford Auto Repair had the following account balances after adjustments. Assume all accounts had normal baiances. (Click the icon to view the account balances.) 14. Prepare the closing entries for Boxford at December 31. 15. What is the balance of Boxford, Capital after closing entries have been recorded? (Use a T-account to determine the balance.) 14. Prepare the closing entries for Boxford at December 31. (Record debits first, then credits. Select the explanation on the last line of the First we will close the Service Revenue account. Noxt we will dose the expense accounts. Now we will close the Income Summary account. Now we will close the Income Summary account. Finally close the Withdrawals account. 15. What is the balance of Boxford, Capital after closing entries have been recorded? (Use a T-account to determine the bal Use "Clos." and the corresponding number as shown in the journal entry as posting references-" Clos.(1), "Clos. (2)", etc. T balance ("Bal.") of the account. Data table pital after closing entries have been recorded? (Use a T-account to determine the balance.) mber as shown in the journal entry as posting references - "Clos. (1)", "Clos. (2)", eto. The adjusted balance of this account has been entered for you

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