After the accounts have been adjusted at June 30, the end of the fiscal year, the following balances were taken from the ledger of Classic Landscaping Co.: Line Item Description Amount Retained Earnings $1,100,000 Dividends 30,000 Fees Earned 975,000 Wages Expense 580,000 Rent Expense 120,000 Supplies Expense 31,600 Miscellaneous Expense 12,400 Journalize the two entries

Financial And Managerial Accounting
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Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter4: The Accounting Cycle
Section: Chapter Questions
Problem 6E: Income statement; net loss The following revenue and expense account balances were taken from the...
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After the accounts have been adjusted at June 30, the end of the fiscal year, the following balances were taken from the ledger of Classic Landscaping Co.:

Line Item Description Amount
Retained Earnings $1,100,000
Dividends 30,000
Fees Earned 975,000
Wages Expense 580,000
Rent Expense 120,000
Supplies Expense 31,600
Miscellaneous Expense 12,400

Journalize the two entries

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