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Closing Entries Exercise 2 Journalizing

Revenue Income Summary Income Summary Salary Expense Rent Expense Utilities Expense Depreciation Expense Income Summary ISDO Capital ISDO, Capital ISDO, Withdrawals

144,000 144,000 121,000 23,000 15,000 65,000 18,000 23,000 23,000 6,500 6,500

Post ClosingTrial Balance debit Cash Accounts Receivable Office Suppies Prepaid Insurance Accounts Payable Notes Payable Taxes Payable ISDO Capital 10,000 26,000 27,500 15,000 18,000 13,000 15,000 32,500 78,500 credit

78,500

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