Solution-Prepare the entries to close the revenue and

Prepare the entries to close the revenue and expense account

Reference no: EM131137367

1. The income statement for Crestwood Golf Club for the month ending July 31 shows Green Fee Revenue $13,600, Salaries Expense $8,200, Maintenance Expense $2,500, and Net Income $2,900. Prepare the entries to close the revenue and expense accounts. Post the entries to the revenue and expense accounts, and complete the closing process for these accounts using the three-column form of account.

Reference no: EM131137367

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Prepare the entries to close the revenue and expense account : The income statement for Crestwood Golf Club for the month ending July 31 shows Green Fee Revenue $13,600, Salaries Expense $8,200, Maintenance Expense $2,500, and Net Income $2,900.

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Prepare the entries to close the revenue and expense account

Reference no: EM131137367

Reference no: EM131137367

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