The year-end adjusted trial balance of Aggies Corporation included the following account balances: Retained Earnings, $210,000; Service Revenue, $800,000; Salaries Expense, $370,000; Rent Expense, $130,000; Interest Expense, $65,000; and Dividends, $40,000. Record the necessary closing entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 1. Record the entry to close revenue accounts. 2.Record the entry to close expense accounts. 3.Record the entry to close dividend accounts.

The year-end adjusted trial balance of Aggies Corporation included the following account balances: Retained Earnings, $210,000; Service Revenue, $800,000; Salaries Expense, $370,000; Rent Expense, $130,000; Interest Expense, $65,000; and Dividends, $40,000. Record the necessary closing entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 1. Record the entry to close revenue accounts. 2.Record the entry to close expense accounts. 3.Record the entry to close dividend accounts.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter16: Accounting For Accounts Receivable

Section: Chapter Questions

Problem 7SEA: COLLECTION OF ACCOUNT WRITTEN OFFDIRECT WRITE-OFF METHOD Comos Music Store uses the direct write-off...

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Journal Entry - T accounts
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post journal entries to t account