The items that follow appeared in the Income Statement columns of the work sheet prepared for Armstrong Delivery Service at current year-end. In addition, retained earnings had a credit balance of $117,000 and dividends had a debit balance of $30,000 at year-end. Prepare closing journal entries for this company.

Question

The items that follow appeared in the Income Statement columns of the work sheet prepared for Armstrong Delivery Service at current year-end. In addition, retained earnings had a credit balance of $117,000 and dividends had a debit balance of $30,000 at year-end. Prepare closing journal entries for this company.
The items that follow appeared in the Income Statement columns of the work sheet prepared for Armstrong Delivery Service at current year-end. In addition, retained earnings had a credit balance of $117,000 and dividends had a debit balance of $30,000 at year-end. Prepare closing journal entries for this company.

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The Answer of The items that follow appeared in the Income Statement columns of the work sheet prepared for Armstrong Delivery Service at current year-end. In addition, retained earnings had a credit balance of $117,000 and dividends had a debit balance of $30,000 at year-end. Prepare closing journal entries for this company.

The Items That Follow Appeared in the Income Statement Columns