The income statement columns of a December 31 worksheet for Alexander Company contain only the following:
The balance sheet columns of the worksheet contain Cash Dividends, $61,200 (debit). Prepare journal entries to close the accounts, using the Income Summary account.

Question

The income statement columns of a December 31 worksheet for Alexander Company contain only the following:
  The balance sheet columns of the worksheet contain Cash Dividends, $61,200 (debit). Prepare journal entries to close the accounts, using the Income Summary account.

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The Answer of The income statement columns of a December 31 worksheet for Alexander Company contain only the following:
  The balance sheet columns of the worksheet contain Cash Dividends, $61,200 (debit). Prepare journal entries to close the accounts, using the Income Summary account.

The Income Statement Columns of a December 31 Worksheet for Alexander