shawlaquick
Mar 27, 2008, 09:45 AM
Need to make a closing single journal entry
 
Wages: $200,000
Service Revenue: $250,000
Supplies Expense: $75,000
Retained Earnings: $525,000
 
Should it be:
 
Retained earnings $525,000
Wages $200,000
Service Revenue $250,000
Supplies Expense $75,000
Wages: $200,000
Service Revenue: $250,000
Supplies Expense: $75,000
Retained Earnings: $525,000
Should it be:
Retained earnings $525,000
Wages $200,000
Service Revenue $250,000
Supplies Expense $75,000