Use the following account balances from the adjusted trial balance of Gees Catering: Account Debit Balance Credit Balance 12,500 Cash Accounts payable R. Gees, Capital R. Gees, Drawing 1,000 Fees revenue Salary expense Rent expense 7,000 2,000 16,300 13,000 6,700 Supplies expense 6,000 Select the correct closing entry that Gees Catering would make to close their revenue account(s) at the end of the accounting period.

Use the following account balances from the adjusted trial balance of Gees Catering: Account Debit Balance Credit Balance 12,500 Cash Accounts payable R. Gees, Capital R. Gees, Drawing 1,000 Fees revenue Salary expense Rent expense 7,000 2,000 16,300 13,000 6,700 Supplies expense 6,000 Select the correct closing entry that Gees Catering would make to close their revenue account(s) at the end of the accounting period.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter5: Completing The Accounting Cycle

Section: Chapter Questions

Problem 9EB: Identify which of the following accounts would be listed on the companys Post-Closing Trial Balance....

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