Novak has year-end account balances of Sales Revenue $832,346, Interest Revenue $12,810, Cost of Goods Sold $602,062, Administrative Expenses $179,800, income Tax Expense $35,898, and Dividends $17,980. Prepare the year-end closing entries.

Novak has year-end account balances of Sales Revenue $832,346, Interest Revenue $12,810, Cost of Goods Sold $602,062, Administrative Expenses $179,800, income Tax Expense $35,898, and Dividends $17,980. Prepare the year-end closing entries.

 

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