Closing Entries with Net LOSS Summit Services Co. offers its services to individuals desiring to improve their personal

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Closing Entries With Net Loss Summit Services Co Offers Its Services To Individuals Desiring To Improve Their Personal 1 (35.43 KiB) Viewed 79 times

Closing Entries with Net LOSS Summit Services Co. offers its services to individuals desiring to improve their personal images. After the accounts have been adjusted at May 31, the end of the fiscal year, the following balances were taken from the ledger of Summit Services: Fees Earned $297,000 Dividends 41,000 Rent Expense 62,000 Retained Earnings 660,000 Supplies Expense 15,200 Wages Expense 260,700 Miscellaneous Expense 7,300 Journalize the closing entries required to close the accounts. If an amount box does not require an entry, leave it blank. May 31 May 31