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Business, 03.07.2020 01:01 goblebrandon

On December 31 the Income Summary account of Cook Company has a debit balance of $18,000 after revenue of $49,000 and expenses of $67,000 were closed to the account. Maria Cook, Drawing has a debit balance of $23,000 and Maria Cook, Capital has a credit balance of $84,000. Record the journal entries necessary to complete closing the accounts. Post the closing entries to the Maria Cook, Capital account.

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On December 31 the Income Summary account of Cook Company has a debit balance of $18,000 after reven...
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