fter the accounts have been adjusted at May 31, the end of the fiscal year, the following balances are taken from the ledger of Carmen Services Carmen Richards, Capital $19,200 Carmen Richards, Drawing 2,050 Fees Earned 26,600 Wages Expense 11,300 Rent Expense 5,450 Supplies Expense 1060 Miscellaneous Expense 180 burnalize the four entries required to close the accounts. For compound entries, if an amount box does not require an entry, leave it blank. May 31 Fees Earned Income Summary 26,600 26,600 v May 31 Income Summary 17,990 Wages Expense 11,300 Rent Expense 5,450 Supplies Expense 1,060 V Miscellaneous Expense 180 May 31 Income Summary 5,350 X Carmen Richards, Capital 5,350 X

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.