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July 31 (To close dividends) Post to the Retained Earnings and Income Summary accounts. (Post...

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Accounting

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July 31 (To close dividends) Post to the Retained Earnings and Income Summary accounts. (Post entries in the order of journal entries presented in the previous part. Enter negotive amounts using either a negative sign preceding the number eg. -45 or porentheses eg. (45)). Prepare the closing entries. (Credit account titles ore outomotically indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit July 31 (To close revenve accounts) July 31 (To close expense accounts) July 31

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