After the accounts have been adjusted at October 31, the end of the fiscal year, the following balances were taken from the ledger of Velocity Delivery Services Co.:
|
Lisa Jordon, Capital |
$318,500 |
|
Lisa Jordon, Drawing |
36,000 |
|
Fees Earned |
475,150 |
|
Wages Expense |
390,000 |
|
Rent Expense |
85,000 |
|
Supplies Expense |
38,350 |
|
Miscellaneous Expense |
12,675 |
Journalize the four entries required to close the accounts.