Beachside Realty rents condominiums and furnishings. Below is the adjusted trial balance at December 31.

Business

1 answer:

Lana71 [14]2 years ago

5 0

Answer and Explanation:

The journal entry required to close the expense account is given below:

Income summary Dr $33,520

To Wages Expense $19,000

To Depreciation Expense $1,800

To Utilities Expense $320

To Insurance Expense $700

To Maintenance Expense $9,000

To Income Tax Expense $2,700

(being the expenses accounts are closed)

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