Identify which accounts should be closed

Reference no: EM131823956

Question: Salt Creek Golf Inc. was organized on July 1, 2017. Quarterly financial statements are prepared. The trial balance and adjusted trial balance on September 30.

Instructions: (a) Journalize the adjusting entries that were made.

(b) Prepare an income statement and a retained earnings statement for the 3 months ending September 30 and a classified balance sheet at September 30.

(d) If the note bears interest at 12%, how many months has it been outstanding?

Reference no: EM131823956

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