Closing Entries
Make the closing entry (or entries) necessary to close the following accounts:
Salary Expense |
$18,000 |
Unearned Service Revenue |
4,700 |
Paid In Capital |
2,000 |
Cash |
800 |
Service Revenue |
20,000 |
Rent Expense |
6,400 |
Retained Earnings (beginning) |
1,500 |
Prepaid Rent Expense |
3,000 |