Prepare closing entries from the following information on the Warner Books worksheet income statement columns.Additional information: Withdrawals equal $20 for the period.
$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\text { Income Statement }$
$\begin{array}{lll}
& \text { Debit } & \text { Credit } \
\text { Sales } &&90\
\text { Sales Ret. and Allow. } & 8 &\
\text { Income Summary } & 16 &22 \
\text { Purchases } & 50 & \
\text { Pur. Ret, and Allow. } & & 8 \
\text { Sales Salaries Expense } & 12 & \
\text { Office Salaries Expense } & 4 &
\end{array}$

Question

Prepare closing entries from the following information on the Warner Books worksheet income statement columns.Additional information: Withdrawals equal $20 for the period.
 $\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\text { Income Statement }$
$\begin{array}{lll}
& \text { Debit } & \text { Credit } \
\text { Sales } &&90\
\text { Sales Ret. and Allow. } & 8 &\
\text { Income Summary } & 16 &22 \
\text { Purchases } & 50 &  \
\text { Pur. Ret, and Allow. } & & 8 \
\text { Sales Salaries Expense } & 12 & \
\text { Office Salaries Expense } & 4 &
\end{array}$

Quizplus · Accepted Answer

The Answer of Prepare closing entries from the following information on the Warner Books worksheet income statement columns.Additional information: Withdrawals equal $20 for the period.
 $\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\text { Income Statement }$
$\begin{array}{lll}
& \text { Debit } & \text { Credit } \
\text { Sales } &&90\
\text { Sales Ret. and Allow. } & 8 &\
\text { Income Summary } & 16 &22 \
\text { Purchases } & 50 &  \
\text { Pur. Ret, and Allow. } & & 8 \
\text { Sales Salaries Expense } & 12 & \
\text { Office Salaries Expense } & 4 &
\end{array}$

Prepare Closing Entries from the Following Information on the Warner \quad

Prepare Closing Entries from the Following Information on the Warner $\quad$