Closing entries with net income Instructions Chart of Accounts Journal Instructions VioletLozano,CapitalVioletLozano,DrawingFeesEarnedWagesExpenseRentExpenseSuppliesExpenseMiscellaneousExpense$930,00011,000707,900482,00072,00011,90014,300 Required: Journalize the...
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Closing entries with net income Instructions Chart of Accounts Journal Instructions VioletLozano,CapitalVioletLozano,DrawingFeesEarnedWagesExpenseRentExpenseSuppliesExpenseMiscellaneousExpense$930,00011,000707,900482,00072,00011,90014,300 Required: Journalize the two entries required to close the accounts. Refer to the chart of accounts for the exact wording of the account titles. CNOW joumals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered
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