trial balance of Swifty at December 31 shows Inventory $22,900, Sales Revenue $158,000, Sales Returns and Allowances $4,500, Sales Discounts $3,500, Cost of Goods Sold $92,300, Interest Revenue $5,000, Freight-Out $2,050, Utilities Expense $7,950, and Salaries and Wages Expense $24,400. Prepare the closing entries for Swifty for these accounts. (Credit account titles are automatically indented when amount is entered. Do not Indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts) Date Account Titles and Explanation Debit Credit

trial balance of Swifty at December 31 shows Inventory $22,900, Sales Revenue $158,000, Sales Returns and Allowances $4,500, Sales Discounts $3,500, Cost of Goods Sold $92,300, Interest Revenue $5,000, Freight-Out $2,050, Utilities Expense $7,950, and Salaries and Wages Expense $24,400. Prepare the closing entries for Swifty for these accounts. (Credit account titles are automatically indented when amount is entered. Do not Indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts) Date Account Titles and Explanation Debit Credit

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter11: Work Sheet And Adjusting Entries

Section: Chapter Questions

Problem 1PB: The trial balance of Jillson Company as of December 31, the end of its current fiscal year, is as...

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