Closing entries
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Selected accounts for Roth Salon - see attachment.
a. Prepare the closing entries that were made.
b. Post the closing entries to Income Summary
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Solution Summary
The solution contains closing entries from a t-account statement.
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Closing entries always debit revenue, credit expense and credit dividends and retained earnings
A. Closing entries were:
Dr. Service Revenue.................. 16100
Cr. Salaries Expense................................ 8800
Cr. Supplies Expense ...
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