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Homework: Ch. 5 Homework Score: 0 of 3 pts S5-9 (similar to) 16 of 18...

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Accounting

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Homework: Ch. 5 Homework Score: 0 of 3 pts S5-9 (similar to) 16 of 18 (17 complete) Russell RV Center's accounting records include the following accounts at December 31, 2018 (Click the loon to view the accounts and balances.) Requirements 1. Journalize the required closing entries for Russell 2. Determine the ending balance in the Retained Earnings account. Requirement 1. Journalize the required closing entries for Russell (Record debits first, then credits. Select the explanation on the last line of the journal entry Start by closing the revenue accounts for the period. Do not close expenses; we will do this in the next step. Date Accounts and Explanation Debit Credit Dec. 31 Choose from any list or enter any number in the input fields and then click Check Answer neck Answer ngs account Data Table Tor Russel0 not close d Explan Cost of Goods Sold Accounts Payable Rent Expense Building Common Stock Retained Earnings Merchandise Inventory Notes Receivable S 369,000 Accumulated Depreciation Building 14,000 Cash 24,000 Sales Revenue 125,000 Depreciation Expense Building 109,000 Dividends 14,200 Interest Revenue 195,200 29,000 $ 39,000 55,000 680,000 15,000 50,000 6,000 Print Done

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