Solution:
Date Accounts Titles & Explanation Debit Credit
Jul-31 Service Revenue 15400
Income Statement 15400
Jul-31 Income Statement 9000
Salaries & Wages expense 7500
maintenance & Repairs expense 1500
Service Revenue
Date Explanation Debit Credit Balance
31-Jul Balance 15400 15400
31-Jul Closing entry 15400 0
Salary & Wages expense
Date Explanation Debit Credit Balance
31-Jul Balance 7500 7500
31-Jul Closing entry 7500 0
Maintenance & Repairs expense
Date Explanation Debit Credit Balance
31-Jul Balance 1500 1500
31-Jul Closing entry 1500 0
