The information below appeared on the Income Statement section of
the work sheet for The Greenhouse.
Income Statement Debit Credit
Income summary 6,800.40
Sales 264,048.10
Sales Discounts 5,941.00
Sales Returns and Allowances 7,921.40
Purchases 96,905.70
Transportation In 10,826.00
Purchases Discounts 3,168.60
Purch. Ret. and Allow. 4,224.80
Advertising Expense 12,444.10
Bankcard Fees Expense 5,281.00
Insurance Expense 1,050.00
Miscellaneous expense 2,732.00
Rent Expense 18,000.00
Supplies Expense 2,587.70
Utilities Expense 6,601.20
Fed. Corp. Inc. Tax Exp. 22,253.00
199,343.50 271,441.50
Net Income 72,098.00
271,441.50 271,441.50
How many of the accounts shown above will be affected by closing
entries?