Make changes to the following accounts via journal entry 1 as of 12/31/25 with an offset to
Opening Balance Equity:
Account Amount Name Accounts Receivable (A/R) 4,125.00 GHO Marketing (new customer)
Prepaid Expenses 2,750.00 ?
Accounts Payable (A/P) 5,000.00 Apple Inc. (new vendor)
7 Close the Opening Balance Equity account (which should have a balance of $10,075) to
Owners Equity via journal entry 2 as of 12/31/25. (Note: Use Owners Equity as this company is
a sole proprietorship. Retained Earnings would have been used if this company had been a
corporation.).
Make changes to the following accounts via journal entry 1 as of 12.pdf
1. Make changes to the following accounts via journal entry 1 as of 12/31/25 with an offset to
Opening Balance Equity:
Account Amount Name Accounts Receivable (A/R) 4,125.00 GHO Marketing (new customer)
Prepaid Expenses 2,750.00 ?
Accounts Payable (A/P) 5,000.00 Apple Inc. (new vendor)
7 Close the Opening Balance Equity account (which should have a balance of $10,075) to
Owners Equity via journal entry 2 as of 12/31/25. (Note: Use Owners Equity as this company is
a sole proprietorship. Retained Earnings would have been used if this company had been a
corporation.)
