Crane Company shows the following balances in selected accounts of its adjusted trial balance. Supplies $32,600 Service Revenue $109,000 Supplies Expense 5,200 Salaries and Wages Expense 38,000 Accounts Receivable 12,800

Crane Company shows the following balances in selected accounts of its adjusted trial balance. Supplies $32,600 Service Revenue $109,000 Supplies Expense 5,200 Salaries and Wages Expense 38,000 Accounts Receivable 12,800 Utilities Expense 8,200 Owner’s Drawings 20,000 Rent Expense 17,800 Owner’s Capital 75,000 Journalize the closing entries at December 31. Transcribed Image Text: Date Account Titles and Explanation
Debit
Credit
Dec. 31
(To close revenue account)
Dec. 31
(To close expense accounts)
Dec. 31
(To close net income / (loss))
Dec. 31
(To close drawings)

Need your ASSIGNMENT done? Use our paper writing service to score better and meet your deadline.


Click Here to Make an Order Click Here to Hire a Writer