The following accounts and normal balances existed at year-end. Retained earnings $27,000 Dividends 8,000 Fees earned revenue 94,000 Selling expenses 48,000 Administrative expenses 18,000 Miscellaneous expense 2,800 Make the four journal entries required to close the books. If an amount box does not require an entry, leave it blank.

The following accounts and normal balances existed at year-end. Retained earnings $27,000 Dividends 8,000 Fees earned revenue 94,000 Selling expenses 48,000 Administrative expenses 18,000 Miscellaneous expense 2,800 Make the four journal entries required to close the books. If an amount box does not require an entry, leave it blank.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter5: Completing The Accounting Cycle

Section: Chapter Questions

Problem 8EA: Use the following T-accounts to prepare the four journal entries required to close the books:

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