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its urgent Question 9 of 15 View Policies Current Attempt...

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Accounting

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Question 9 of 15 View Policies Current Attempt in Progress The adjusted account balances of Hobby Centre at July 31 are as follows: Accounts Account Balances Cash $161,000 Accounts receivable 16,000 35,000 Account Balances Accounts $19,000 Service revenue 33,000 Interest revenue 12.000 Depreciation expense 16,000 Insurance expense 308,000 Salary expense 128,000 Supplies expense 27.000 Utilities expense 14.000 Supplies Prepaid insurance Buildings Accumulated depreciation-Buildings Accounts payable D. Fortier, Capital D. Fortier. Drawings 38,000 17,000 20,000 203,000 23,000 Prepare the end of the period closing entries for Hobby Centre. (Credit account titles are automatically indented when the amoun entered. Do not indent manually. List all debit entries before credit entries.) Date Account Titles and Explanation Debit Credit July 31 (To close revenue accounts to income summary.) Question 9 of 15 - / 16 July 31 (To close revenue accounts to income summary.) July 31 Il (To close expense accounts to income summary.) July 31 (To close income summary account to capital.) July 31 (To close drawings to capital.)

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