Listed on its Adjusted Trial Balance.

Sales Revenue: $100,000
Cost of Goods Sold: 50,000
Administrative Expense: 25,000
Retained Earnings: 250,000

Assume there are no other revenue and expense accounts, and that revenues and
Expenses are closed with a single journal entry. Which of the following is the correct
Closing entry for Lackawaxen Co.

A. Administrative Expense $ 25,000
Cost of Goods Sold 50,000
Sales Revenue 100,000
Retained Earnings $175,000

B. Retained Earnings 250,000
Sales Revenue 250,000

C. Retained Earnings 25,000
Cost of Goods Sold 25,000

D. Sales Revenue 100,000
Cost of Goods Sold 50,000
Administrative Expense 25,000
Retained Earnings 25,000

Read this first: Expectations for the Homework Help board
Do not simply retype or paste a question from your book or study material

We won't do your homework questions for you.
You were given the assignment for you to learn.

If you come up with your own answer and post it for us to critique that is within reason.

If you have some SPECIFIC questions that you couldn't find or didn't understand, we may help with that.
But this is your assignment, so show us you have at least attempted to complete it on your own.

Thank you.