Brett Tilman Enterprises had the following accounts and normal balances listed on its December 31st adjusted trial balance: Service Revenue, $23,400; Salaries Expense, $7,000; Rent Expense, $3,000; Advertising Expense, $2,400; and Dividends, $8,600
Journalize the closing entries for Tilman Enterprises. (Record debits first, then credits. Select the explanation on the last line of the joumal entry table.)
Start by closing revenues
Date
Accounts and Explanation
Debit
Credit
Dec 31