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Posted: April 7th, 2023
Ledger of Davis Company Assignment
On December 31, the ledger of Davis Company contained the following account balances:
| Accounts Payable | $ | 14,600 | Fees Income | $ | 187,000 | |
| Accounts Receivable | 6,500 | Supplies | 4,900 | |||
| Accumulated Depreciation | 9,400 | Prepaid Rent | 64,500 | |||
| Cash | 89,000 | Rent Expense | 9,700 | |||
| Depreciation Expense | 9,400 | Supplies Expense | 8,900 | |||
| Equipment | 77,000 | Teresa Davis, Capital | 131,500 | |||
| Teresa Davis, Drawing | 56,500 | Utilities Expense | 16,100 | |||
All the accounts have normal balances. Prepare the closing entries for Davis Company On December 31. Get Accounting homework help today
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