Journalize the two entries required to close the accounts.
After the accounts have been adjusted at January 31, the end of the year, the following balances are taken from the ledger of Harrison’s Dog Walking Service Company: Harrison Taylor, Capital – $349,000 Harrison Taylor, Drawing – 6,000 Fees Earned – 124,600 Wages Expense- 29,000 Rent Expense – 43,000 Supplies Expense – 7,300 Miscellaneous Expense […]