On the basis of the following data taken from the Adjusted Trial Balance columns of the work sheet for the year ended March 31 for Boles Athletic Company, journalize the four closing entries.
Definitions:
Delegator
A person or entity that assigns tasks or authority to others to carry out specific duties.
Obligee
The party in a contractual agreement who is owed a performance or payment by another party (the obligor).
Assignee
An individual or entity to whom rights or interests are transferred by another, known as the assignor.
Good Faith
Acting with honesty and sincerity without intention to defraud or seek an unfair advantage.
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