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Prepare the closing entries required for Murray Corporation

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Question - Following is a list of selected accounts from the Murray Corporation at the end of its first year of operation, December 31, 2019. From the following information, prepare the closing entries required for the Murray Corporation.

 

Debit

Credit

Cash

26,300

 

Accounts Receivable

5,200

 

Delivery Truck

19,000

 

Tools

3,700

 

Accounts Payable

 

7,500

Murray Capital

 

20,000

M. Murray, Withdrawls

3,000

 

Contract Revenue

 

16,300

Salaries Expense

10,300

 

Rent Expense

900

 

Fuel Expense

400

 

Reference no: EM133070727

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