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  3. tamarisk, inc. has the following year-end account

Tamarisk, Inc. has the following year-end account balances: Sales Revenue $924,000; Interest Income $16,800; Cost...

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Accounting

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Tamarisk, Inc. has the following year-end account balances: Sales Revenue $924,000; Interest Income $16,800; Cost of Goods Sold $384,000; Operating Expenses $124,000; Income Tax Expense $55,800; and Dividends $13,800. Prepare the year-end closing entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit (To close revenue accounts.) (To close expense accounts.) (To close net income.) (To close dividends.)

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