Closing entries, Financial Accounting

Closing Entries: Expenses
Below is a list of accounts with corresponding ending balances.
Account: Account Balance
a.Insurance Expense: $1,300
b.Cash: 750
c.Accounts Receivable: 4,000
d.Cost of Goods Sold: 2,300
Prepare one summary entry to close those accounts that should be closed at the end of the year.

Posted Date: 2/18/2014 3:28:21 AM | Location : United States







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