Required informationJournal entryworksheet<1accounts balances: Cash, $15,000: Equipment, $85,000; AccumulatedDepreciation, $25,000, Accounts Payable, $10,000; Retained earnings,$59,000, Dividends, $2,000, Fees Earned, $56,000: Depreciation Expense,$25,000; and Salaries Expense, $23,000. All accounts have normal balances.Note: Enter debits before creditsDateDecember 31General JournalDebitCreditClear entryView general journalRecord entry

Step 1: To prepare the closing entries to Retained Earnings and then make a compound journal entry…

Answered: Required information Journal entry…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 10MC

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