The ledger of Mai Company includes the following accounts with normal balances: D. Mai, Capital $10,500; D. Mai, Withdrawals $1,550; Services Revenue $28,000; Wages Expense $15,900; and Rent Expense $4,600. Prepare the necessary closing entries from the available information at December 31.

Erp has all the following advantages except: modules throughout a corporation can communicate with each other while purchasing is difficult, the vendors such as sap make it worthwhile due to easy implementation have predefined software that represents "pretty good practices" or even "best practices" enables standardized procedures in an organization reduces inconsistent data stored in various locations of the organization