Answer :
Answer:
Debit to Service Revenue of $10,500.
Explanation:
Jackson's closing entries should be:
December 31, 2019
Dr Service revenue 10,500
Cr Income summary 10,500
Dr Income summary 5,500
Cr Office Supplies Expense 600
Cr Rent Expense 3,000
Cr Insurance Expense 1,900
Dr Income summary 5,000
Cr Retained earnings 5,000
Dr Retained earnings 2,000
Cr Dividends 2,000