The ledger of Mai Company includes the following accounts with normal balances as of December 31: D. Mai, Capital $9,500; D. Mai,Withdrawals $1,050; Services Revenue $18,000; Wages Expense $10,900; and Rent Expense $2,600.Prepare its December 31 closing entries.View transaction listJournal entry worksheet12 3Record the entry to close revenue accounts.Note: Enter debits before credits.DateDec 314Record entryGeneral JournalClear entryDebitCreditView general journal>

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The ledger of Mai Company includes the following accounts with normal balances as of December 31: D. Mai, Capital $9,500; D. Mai, Withdrawals $1,050; Services Revenue $18,000; Wages Expense $10,900; and Rent Expense $2,600. Prepare its December 31 closing entries.

The ledger of Mai Company includes the following accounts with normal balances as of December 31: D. Mai, Capital $9,500; D. Mai, Withdrawals $1,050; Services Revenue $18,000; Wages Expense $10,900; and Rent Expense $2,600. Prepare its December 31 closing entries.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter7: Accounting Information Systems

Section: Chapter Questions

Problem 12MC: On January 1, Incredible Infants sold goods to Babies Inc. for $1,540, terms 30 days, and received...

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