can someone help me lost on how this is done


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can someone help me lost on how this is done

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x Wk 5 - Apply: Connect Exercise [c X
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Wk 5 - Apply: Connect Exercise [due Mon]
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Assume further that the owner of the firm is John Capeletti and that the John Capeletti,
Drawing account had a balance of $26,050 on December 31, 2019.
12
points
Prepare the entries that should be made in the general journal to close the revenue, cost
Skipped
of goods sold, expense, and other temporary accounts.
View transaction list
Journal entry worksheet
2
3
4
Prepare the closing entry for revenue and other credit items.
Note: Enter debits before credits.
Date
General Journal
Debit
Credit
Dec 31, 2019
Record entry
Clear entry
View general journal
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  • Attachment 2

Books & Tools
x Wk 5 - Apply: Connect Exercise [c X
+
X
C
newconnect.mheducation.com/flow/connect.html
1 : Apps y eCampus: Login Landmark ResortH... Empower Retireme.
Getting Started Imported From Fire... Interests: Social, Ent.. @ Learn a New Skill O.. Paystub Disability Discharge Paystub
Wk 5 - Apply: Connect Exercise [due Mon]
Saved
Help
Save & Exit Submit
On December 31, 2019, the Income Statement section of the worksheet for Capeletti
Distributors contained the following information.
12
Income Statement
points
Section
Debit
Credit
$ 38, 300 $ 41, 600
Skipped
Income Summary
Sales
253, 000
Sales Returns and
Allowances
3,750
Sales Discounts
2, 750
Interest Income
155
Purchases
134, 100
Freight In
2, 050
Purchases Returns
and Allowances
1, 850
Purchases Discounts
1, 500
Rent Expense
8, 350
Utilities Expense
2, 900
Telephone Expense
1, 510
Salaries Expense
65, 800
Payroll Taxes
Expense
5, 240
Supplies Expense
1, 670
Depreciation
Expense
2, 350
Interest Expense
310
Totals
$269, 080 $298, 105
Assume further that the owner of the firm is John Capeletti and that the John Capeletti,
Drawing account had a balance of $26,050 on December 31, 2019.
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Hill
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