INCOME STATEMENT BALANCE SHEET DEBIT CREDIT DEBIT CREDIT CASH 30,000 ACCOUNTS RECEIVALBE 10,000 STOR

/in /by

INCOME STATEMENT

BALANCE SHEET

DEBIT

CREDIT

DEBIT

CREDIT

CASH

30,000

ACCOUNTS RECEIVALBE

10,000

STORE EQUIPMENT

40,000

ACCUM. DEPR

5000

ACCOUNTS PAYABLE

9,300

NOTES PAYABLE

15,000

SALARIES PAYABLE

500

DRAWING

5000

CAPITAL

20,000

REVENUE

59,000

SALARIES EXPENSE

9,000

INSURANCE EXPENSE

3,500

RENT EXPENSE

7,000

DEPRECIATION EXPENSE

4,300

23,800

59,000

85,000

49,800

35,200

35,200

59,000

59,000

85,000

85000

Use the above partial worksheet to prepare the closing entries for ABC Co.