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Journalize the entries required to close the accounts

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Reference no: EM132522986

After the accounts have been adjusted at January 31, the end of the year, the following balances are taken from the ledger of Harrison's Dog Walking Service Company:

Harrison Taylor, Capital$367,640

Harrison Taylor, Drawing13,360

Fees Earned125,610

Wages Expense43,450

Rent Expense14,450

Supplies Expense14,700

Miscellaneous Expense1,700

Required:

Question 1: Journalize the entries required to close the accounts. Refer to the Chart of Accounts for exact wording of account titles.

Reference no: EM132522986

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