z i The year-end adjusted trial balance of Aggies Corporation included the following account balances: Retained Earnings. $219,000; Service Revenue, $845,000; Salaries Expense, $379,000: Rent Expense, $139,000; Interest Expense, $74,000; and Dividends. $49,000. Record the necessary closing entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 Record the entry to close revenue accounts. Note: Enter debits before credits. Date December 31 Saved General Journal Debit Credit

Cornerstones of Financial Accounting
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Chapter1: Accounting And The Financial Statements
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(304) Mukhtar Nam...
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Home - tamusa.edu X
00:49:32
(77) العناصر المحفوظة f
View transaction list
Journal entry worksheet
1
2
Activity Stream ×
1
The year-end adjusted trial balance of Aggies Corporation included the following account balances: Retained Earnings, $219,000;
Service Revenue, $845,000; Salaries Expense, $379,000; Rent Expense, $139,000; Interest Expense, $74,000; and Dividends,
$49,000.
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Graw
Hill
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3
Note: Enter debits before credits.
Date
December 31
Record the necessary closing entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first
account field.)
Record the entry to close revenue accounts.
General Journal
Debit
Saved
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e
Credit
1 of 1
B
>
The year-end adjust X
142 Sargent St, San...
II
The year-end adjust X
142 Sargent St, San...
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Desktop
1548 N Center St, S...
Help
□
Save & Exit
69°F Sunny
Submit
5:19 PM
2/5/2023
X
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Transcribed Image Text:Question 1 - Chapte X + ✰ ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Ftamusa.blackboard.com... Q (304) Mukhtar Nam... 109 Fredonia St, Sa... M Auburn Creek - Pay X Chapter 3 Quiz i Home - tamusa.edu X 00:49:32 (77) العناصر المحفوظة f View transaction list Journal entry worksheet 1 2 Activity Stream × 1 The year-end adjusted trial balance of Aggies Corporation included the following account balances: Retained Earnings, $219,000; Service Revenue, $845,000; Salaries Expense, $379,000; Rent Expense, $139,000; Interest Expense, $74,000; and Dividends, $49,000. Mc Graw Hill Type here to search [4/4] Movie - Ashab... 3 Note: Enter debits before credits. Date December 31 Record the necessary closing entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Record the entry to close revenue accounts. General Journal Debit Saved < Prev e Credit 1 of 1 B > The year-end adjust X 142 Sargent St, San... II The year-end adjust X 142 Sargent St, San... Next > Desktop 1548 N Center St, S... Help □ Save & Exit 69°F Sunny Submit 5:19 PM 2/5/2023 X h : »> 19
Expert Solution
Step 1

JOURNAL ENTRIES

Journal Entry is the First stage of Accounting Process. Journal Entry is the Process of Recording all Financial & Non Financial Transaction in a Proper Format.

Journal entries help to Keep the Records of All Transactions.

Golden Rule of Journal Entry :— 

    • Debit the Receiver, Credit the Giver.
    • Debit what Comes in, Credit what Goes Out.
    • Debit all Expenses & Losses, Credit all Income & Gains.
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