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Tnix Company's ledger on July 31, its fiscal year-end, includes the following selected accounts
that have normal balances. Tnix uses the perpetual inventory system. Prepare the company's
year-end closing entries. Journal entry worksheet Record the entry to close the income statement
accounts with credit balances. Note: Enter debits before credits.

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  • 1. Tnix Company's ledger on July 31, its fiscal year-end, includes the following selected accounts that have normal balances. Tnix uses the perpetual inventory system. Prepare the company's year-end closing entries. Journal entry worksheet Record the entry to close the income statement accounts with credit balances. Note: Enter debits before credits.