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Identifying and Journalizing Closing Entries.

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1. Journalize Klein Photography's closing entries at December 31, 2012.
2. Determine Klein Photography's ending Retained earnings balance at December 31, 2012.

Attached are adjusting entries for Klein Photography accounts.

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Solution Summary

Proper identification and journalization of closing entries to a company's general journal, t-accounts, and accounting statements.

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