Closing Entries
Make the closing entry (or entries) necessary to close the following accounts:
|
Cost of Goods Sold |
$ 9,000 |
|
Accounts Payable |
1,100 |
|
Paid In Capital |
2,000 |
|
Cash |
400 |
|
Sales |
10,000 |
|
Dividends |
$ 700 |
|
Retained Earnings (beginning) |
1,000 |
|
Inventory |
4,000 |