Module 5 discussion question 2

 

Module Five Discussion Question #2 

The following accounts and normal balances existed at year-end. Make the four journal entries required to close the books:

Balances

Balances

Retained earnings $22,000

Dividends 6,000

Fees earned revenue 90,000

Selling expenses 45,000

Administrative expenses 16,000

Miscellaneous expense 2,300