After the accounts have been adjusted at December 31, the end of fiscal year, the following balances were taken from the ledger of Company:
Required: Account
Cash
Inventories
Accounts payable
Capital
Drawing
Sales
Cost of goods sold
Miscellaneous expense
Amount ($)
10500
20000
5500
10000
1000
14000
5000
500
1. Journalize the four entries required to close the accounts