After the accounts have been adjusted at April 30, the end of the fiscal year, the following balances were taken from the ledger of Magnolia Landscaping Co.:
|
Jayme Carmichael, Capital |
$528,900 |
|
Jayme Carmichael, Drawing |
60,000 |
|
Fees Earned |
690,500 |
|
Wages Expense |
410,000 |
|
Rent Expense |
75,000 |
|
Supplies Expense |
48,650 |
|
Miscellaneous Expense |
19,700 |
Journalize the four entries required to close the accounts.