Prepare the closing entries from the following information on the PC Pros Company worksheet income statement columns.
$\quad $ $\quad $ $\quad $ $\quad $ $\quad $ $\quad $ $\quad $ $\quad $ $\quad $$\text { Income Statement }$
$\begin{array}{lrr}
& \text { Debit } & \text { Credit } \
\text { Sales } & & 20 \
\text { Sales Ret. and Allow. } & 1 & \
\text { Income Summary } & 5 &6 \
\text { Purchases } & 14 & \
\text { Pur. Ret. and Allow. } & &2 \
\text { Insurance Expense } & 3 &\
\text { Office Salaries Expense }&1&
\end{array}$

Question

Prepare the closing entries from the following information on the PC Pros Company worksheet income statement columns.
 $\quad $ $\quad $ $\quad $ $\quad $ $\quad $ $\quad $ $\quad $ $\quad $ $\quad $$\text { Income Statement }$
$\begin{array}{lrr} 
& \text { Debit } & \text { Credit } \
\text { Sales } & & 20 \
\text { Sales Ret. and Allow. } & 1 &  \
\text { Income Summary } & 5 &6 \
\text { Purchases } & 14 & \
\text { Pur. Ret. and Allow. } & &2 \
\text { Insurance Expense } & 3 &\
\text { Office Salaries Expense }&1&
\end{array}$

Quizplus · Accepted Answer

The Answer of Prepare the closing entries from the following information on the PC Pros Company worksheet income statement columns.
 $\quad $ $\quad $ $\quad $ $\quad $ $\quad $ $\quad $ $\quad $ $\quad $ $\quad $$\text { Income Statement }$
$\begin{array}{lrr} 
& \text { Debit } & \text { Credit } \
\text { Sales } & & 20 \
\text { Sales Ret. and Allow. } & 1 &  \
\text { Income Summary } & 5 &6 \
\text { Purchases } & 14 & \
\text { Pur. Ret. and Allow. } & &2 \
\text { Insurance Expense } & 3 &\
\text { Office Salaries Expense }&1&
\end{array}$

Prepare the Closing Entries from the Following Information on the PC