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After the accounts have been adjusted at December 31, the end of the fiscal year,...

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Accounting

After the accounts have been adjusted at December 31, the end of the fiscal year, the following balances were taken from the ledger of Pioneer Delivery Services Co.: Kerry Buckner, Capital $3,484,000 Kerry Buckner, Drawing 36,000 Fees Earned 1,254,000 Wages Expense 748,200 Rent Expense 64,400 Supplies Expense 13,250 Miscellaneous Expense 8,950 Required: Journalize the two entries required to close the accounts. Refer to the Chart of Accounts for exact wording of account titles.

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