Question

On December 31, 2019, the ledger of Lopez Company contained the following account balances: Cash $...

On December 31, 2019, the ledger of Lopez Company contained the following account balances:

Cash $ 32,300 Maria Lopez, Drawing $ 12,800
Accounts Receivable 2,550 Fees Income 50,250
Supplies 1,750 Depreciation Expense 2,400
Equipment 25,300 Salaries Expense 16,300
Accumulated Depreciation 2,150 Supplies Expense 2,650
Accounts Payable 2,650 Telephone Expense 2,250
Maria Lopez, Capital 47,550 Utilities Expense 4,300


Prepare the closing entries for the above transactions.

Note: Enter debits before credits.

Date General Journal Debit Credit
Dec 31, 2019

Note: Enter debits before credits.

Date General Journal Debit Credit
Dec 31, 2019

Note: Enter debits before credits.

Date General Journal Debit Credit
Dec 31, 2019

Note: Enter debits before credits.

Date General Journal Debit Credit
Dec 31, 2019

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