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The following list includes temporary accounts from the December 31 adjusted trial balance of Emiko...

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Accounting

The following list includes temporary accounts from the December 31 adjusted trial balance of Emiko Company. Use these normal account balances to journalize closing entries.
\table[[K. Emiko, Withdrawals,Debit,Credit],[Sales,$50,000,],[Sales returns and allowances,20,900,],[Sales discounts,697,000,],[Cost of goods sold,246,000,],[Sales salaries expense,65,000,],[Utilities expense,23,500,],[Selling expenses,44,500,],[Administrative expenses,122,000,]]
Journal entry worksheet
\table[[1,2,3,4]]
Record closing of credit balances in temporary accounts.
Note: Enter debits before credits.
\table[[Date,General Journal,Debit,Credit],[December 31,,,],[,,,]]
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