Business, 27.06.2020 01:01 mariahrpoulin9630

Stylist Services Co. offers its services to individuals desiring to improve their personal images. After the accounts have been adjusted at July 31, the end of the fiscal year, the following balances were taken from the ledger of Stylist Services Co.: Marlena Fenton, Capital $1,060,000 Marlena Fenton, Drawing 75,000 Fees Earned 618,200 Wages Expense 388,400 Rent Expense 60,000 Supplies Expense 19,500 Miscellaneous Expense 6,150 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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